Since the Interim Management Statement on 6 November 2012, trading has continued in line with the Board’s expectations for the year. While the short-term outlook for the Group into 2013 remains challenging, we are confident in the medium-term outlook from 2014 onwards. This reflects our success in securing a number of longer-term opportunities in growing sectors of the market including rail, energy and utilities and infrastructure.
In a competitive environment we continue to bid selectively across the Group, targeting major project and framework opportunities in all our market sectors and we are already benefiting from increased operational efficiency as a result of the restructuring measures previously announced. The Group’s forward order book stands at £3.0bn with a further £0.7bn of projects at preferred bidder stage.
The company will announce its preliminary results for the year ended 31 December 2012 in February 2013. In our 2012 preliminary results and annual report, in line with our construction peers, we will be reporting the profit on the sale of our equity investments within operating profit, rather than as non-operating profit.
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Morgan Sindall Group plc Tel: 020 7307 9200
John Morgan, Chief Executive
David Mulligan, Finance Director
Brunswick Tel: 0207 404 5959
Notes to Editors:Morgan Sindall Group plc is a leading UK construction and regeneration group operating through five divisions of construction and infrastructure, affordable housing, fit out, urban regeneration and investments.