25th Apr 2006 07:01
Morgan Sindall PLC25 April 2006 Morgan Sindall plc ("the Group") AGM statement John Morgan, Executive Chairman of Morgan Sindall plc, will make the followingcomments at the Company's Annual General Meeting to be held at 12pm today. "In February we again announced record results for the past year and commentedthat we entered 2006 with confidence. Since then our view has not changed andall our key markets continue to have a positive outlook. Fit Out is performing strongly in a growing market place that is being driven bythe expansion of the financial services sector. As a result the division'sorder book has further improved since the year end. Construction continues to secure new contracts in its chosen sectors of health,education, light industrial and property services. The division's order bookhas been maintained at year end levels. Following a difficult period for the civil engineering market, InfrastructureServices has in the first four months of the year secured a number of keycontracts worth £265m. The division's result this year will be weighted to thesecond half since these contracts will take time to mobilise. This supports ourview that the market is seeing signs of improvement. In March we announced theacquisition of a building and civil engineering infrastructure specialist for£23million. This has been named Morgan Est Rail and opens up a new market forthe division in the rail sector. The business is targeting non-track buildingworks and will work closely with the division's existing tunneling expertise. Affordable Housing continues to perform strongly and the outlook remainspositive with a number of large scale projects being pursued. The division hasbeen successful in gaining partner status with the Housing Corporation, whichopens up further opportunities in the sector in the longer term. Overall the Group is performing in line with expectations. The outlook for ourbusinesses in their chosen markets is positive, and we look forward to reportingon further progress later in the year." 25 April 2006 Enquiries: Morgan Sindall plc Tel: 020 7307 9200John Morgan, Executive ChairmanPaul Smith, Chief ExecutiveDavid Mulligan, Finance Director College Hill Tel: 020 7457 2020Alex WaltersMatthew Smallwood This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Morgan Sindall Group