Morgan Sindall surging ahead as order book hits £8.9bn
Morgan Sindall is raising its profit forecasts again after a significant surge in contract wins saw the contractor’s order book hit £8.9bn.
And the turnover boom is filtering through to the bottom line with construction margins set to hit 3% and infrastructure work top 3.5%.
Construction currently has a secured order book of £4.7bn – up 20% from the year end.
The Fit Out division has had a record period of winning work and converting projects from preferred bidder stage into contract.
At the end of September its order book was £944m – up 62% from the half year position and up 130% from the year end.
A number of larger contract wins will generate revenue over a number of years giving better long-term visibility compared to its usual project cycle.
Morgan Sindall said inflation in the supply chain and the availability of materials and labour “have remained manageable”