Morgan Sindall sees construction order book rise 4%

Morgan Sindall says the committed order book for its construction business was up by 4% at the end of the first quarter to £1.6bn.

In an interim management statement released ahead of its AGM today, the company says market confidence in its construction business continues to increase, although margins remain tight.

The committed order book for the whole group was up 9% from the year end at £2.6bn.

The construction division’s fit-out business has seen a 25% expansion of its order book, although this was from a low year-end figure.

Open market sales in its regeneration business have been benefiting from Help to Buy, although total unit sales for the end of the year will be constrained by construction completions.

But because the company has been disposing of fewer of its investments this year, profits from this activity are likely to be lower.

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