The Group remains on track to meet its expectations for the current year and is trading positively, despite continuing to face challenging conditions in some of the construction and regeneration markets in which it operates.
The Group’s forward order book currently stands at £3.6 billion, broadly consistent with the start of the year. Morgan Sindall’s financial position remains strong, with net cash and £75 million of banking facilities that have been recently renewed through to mid-2012.
Morgan Sindall’s strategy remains one of building market leadership in each of its chosen sectors and expects the current market to present opportunities, allowing it to make further progress towards fulfilling this goal.
To view a copy of the statement in full, please visit: http://www.morgansindall.com/investors/announcements/rns-announcements/