Morgan Sindall Group on track to meet expectations for the year
Construction and regeneration group Morgan Sindall Group has today issued its trading update for the six months to 30 June 2010. The Group’s interim results will be announced on Monday, 9 August 2010.
The Group's positive start to the year has continued. It is on track to meet its expectations for the current year, with improvements in underlying trading expected to offset the estimated £2 million net cost of the integration of the Construction and Infrastructure Services divisions in the current year.
The Group's financial position remains strong, with net cash at the half year expected to be more than £100 million and average cash for the six months significantly above market expectations. The Group's forward order book currently stands at £3.5 billion, compared with £3.2 billion at the start of the year. Morgan Sindall Group has had a positive first half of 2010 and, with its broad sector spread, remains well positioned to face the challenges ahead and to benefit from opportunities as they present themselves.
To view a copy of the statement in full, please visit: http://corporate.morgansindall.com/investors/announcements/rns-announcements/