Morgan Sindall PLC
25 April 2006
Morgan Sindall plc
('the Group')
AGM statement
John Morgan, Executive Chairman of Morgan Sindall plc, will make the following
comments 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 commented
that we entered 2006 with confidence. Since then our view has not changed and
all our key markets continue to have a positive outlook.
Fit Out is performing strongly in a growing market place that is being driven by
the expansion of the financial services sector. As a result the division's
order 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 book
has been maintained at year end levels.
Following a difficult period for the civil engineering market, Infrastructure
Services has in the first four months of the year secured a number of key
contracts worth £265m. The division's result this year will be weighted to the
second half since these contracts will take time to mobilise. This supports our
view that the market is seeing signs of improvement. In March we announced the
acquisition of a building and civil engineering infrastructure specialist for
£23million. This has been named Morgan Est Rail and opens up a new market for
the division in the rail sector. The business is targeting non-track building
works and will work closely with the division's existing tunneling expertise.
Affordable Housing continues to perform strongly and the outlook remains
positive with a number of large scale projects being pursued. The division has
been successful in gaining partner status with the Housing Corporation, which
opens up further opportunities in the sector in the longer term.
Overall the Group is performing in line with expectations. The outlook for our
businesses in their chosen markets is positive, and we look forward to reporting
on further progress later in the year.'
25 April 2006
Enquiries:
Morgan Sindall plc Tel: 020 7307 9200
John Morgan, Executive Chairman
Paul Smith, Chief Executive
David Mulligan, Finance Director
College Hill Tel: 020 7457 2020
Alex Walters
Matthew Smallwood
This information is provided by RNS
The company news service from the London Stock Exchange
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