Shares in Morgan Sindall Group PLC (LSE:MGNS) rose 11% on Thursday after the construction and regeneration group said its results for the year will be “significantly ahead” of earlier forecasts, driven by a strong performance in its office fit-out business.
The FTSE 250 company, which works across housing, infrastructure and property services, said profits in its Fit Out division had exceeded expectations thanks to both robust demand and strong project delivery. The division’s order book now stands at £1.6 billion, up 8% since the half year.
Elsewhere, its partnership housing arm has secured major regeneration contracts in Birmingham and Cardiff, while construction and infrastructure are trading in line with expectations. The group’s order book across all divisions totals £12.2 billion.
Morgan Sindall said it expects to report average net cash of more than £350 million for the year, ahead of guidance. Full-year results will be published on 25 February.
The shares rose 481.5p to 4,856.50p.