Morgan Sindall backs profit outlook amid 'strong confidence' for 2025

Morgan Sindall Group PLC on Thursday stuck to its 2025 guidance, and hailed its ‘high-quality’ order book.

The London-based construction and regeneration company said profit at its Partnership Housing arm is in line with previous guidance amid a ‘good improvement’ in sales activity. In Mixed Use Partnerships, trading is expected to be in line with previous guidance.

At the Fit Out division, Morgan Sindall is seeing ‘very strong trading momentum’. The division is expected to exceed a revised medium-term annual operating profit target of £60 million to £85 million.

Morgan Sindall said the Construction unit is performing as expected, while the outturn at Infrastructure is expected to be in line with previous guidance. Property Services is on track for ‘modest profit’ in 2025.

Chief Executive John Morgan said: ‘Since the start of the year, trading has been better than we originally expected and looking ahead to the rest of the year, our high-quality secured order book gives us strong confidence of delivering a full year performance in line with our current expectations.’

In March, the firm said that full year adjusted pretax profit would be slightly ahead of market consensus of £178.0 million. That would represent a 3.2% rise from the £172.5 million Morgan Sindall achieved in 2024.

The firm said its total secured order book as of March 31 stood at £11.3 billion, down slightly from £11.4 billion at the end of 2024, but up 26% on-year.

Shares in the company rose 0.9% to 3,565.00 pence each in London on Thursday morning.

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