Morgan Sindall shares jump as expects to beat previous expectations
Morgan Sindall Group PLC on Tuesday upgraded its profit view, amid strong trading in its Fit Out division.
The London-based construction and regeneration company said it expects group pretax profit for 2025 to be ‘significantly ahead of previous expectations’ as reported at its last update in May.
Morgan Sindall shares jumped 15% to 4,435.00 pence each on Tuesday morning in London, giving it a market capitalisation of £2.13 billion.
Morgan Sindall back in March predicted adjusted pretax profit ‘slightly ahead’ of consensus at the time of £178.0 million. In May, it said it was confident of delivering a full year performance in line with expectations at the time.
Adjusted pretax profit in 2024 amounted to £172.5 million.
The firm said Tuesday it expects Fit Out’s profit ‘to significantly exceed’ expectations due to continued ‘strong trading activity...providing increased visibility for the rest of the year’.
In Construction, it expects revenue and profit to exceed prior targets, with an operating margin in the middle of its 3.0% to 3.5% medium-term target range.
All other divisions remain on track to meet the company’s forecasts, Morgan Sindall said.
The company will release interim results on July 29.
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