Business
Pre-Close Trading Statement
Pre-Close Trading Statement.
About this update from Morgan Sindall Group Plc
[{"type":"text","content":"\n RNS Number : 3490K Morgan Sindall PLC 18 December 2008 \n \n18 Dec 2008\nMorgan Sindall plc\nMorgan Sindall plc, the construction and regeneration group, provides the following period end trading update in advance of the announcement of its preliminary results for the year ended 31 December 2008, expected to be in late February 2009. \n\nTrading\n\nMorgan Sindall remains on track to achieve its expectations for a record profit in the current year and continues to be well positioned as a result of its broad spread of activity across the construction and regeneration sectors. Our strategy remains one of developing market leadership in all the sectors in which we operate. \n\nFit Out has continued to perform strongly in the second half of the year. As previously stated we continue to expect a fall in demand as we enter 2009, although our broad sector spread and focus on quality leadership should offset this to some extent. \n\nConstruction is trading in line with our expectations and is well placed to face the challenges in the general construction market, with over 70% of its workload coming from the public sector. Our strength in the education and healthcare sectors in particular should help us to benefit from Government plans to bring forward public spending in these areas. \n\nInfrastructure Services continues to benefit from the buoyant infrastructure market. It has continued to strengthen its market position by further developing its market leading positions in tunnelling, transport, water and utilities. The division's expertise in tunnelling means it is well placed as a number of major tunnelling projects are procured over the next twelve months. \n\nAffordable Housing is continuing to secure and deliver refurbishment and new build social housing projects, which is helping to largely offset the impact of the downturn in open market housing. The affordable housing sector remains a key Government priority and the recent announcement to accelerate spending in this area is encouraging.\n\nUrban Regeneration was successful in securing the £350m Swindon town centre regeneration scheme in November an...