Firm says year-end number will be ahead of previous £178m consenus
An ongoing boom at its fit-out business has meant Morgan Sindall has already upgraded its forecast for its 2025 results before the end of the first quarter is over.
The firm, which last month said pre-tax profit last year jumped 19% to a record £172m on turnover up 10% to £4.5bn, said that “an acceleration in its trading momentum” at the fit-out arm meant full-year results for the group will “be slightly ahead of [the] market consensus” of an adjusted pre-tax profit of £178m.
Last month, the firm said it had upgraded the annual operating profit target at fit-out in the medium term to be between £60m and £85m, from £50m to £70m previously.
In a trading update this morning, the firm said the figure for fit-out was now at the top end of the revised figure with its other divisions, which include building and infrastructure, performing in line with expectations.
Broker Investec said it was upgrading the firm’s underlying pre-tax profit from £176m to £187m.
The firm’s next trading update will be made on 1 May.
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