Chairman John Morgan says work on larger projects is picking up

Morgan Sindall chairman John Morgan said the firm鈥檚 construction division has made a 鈥済ood start to the year鈥�.

In a statement ahead of today鈥檚 AGM, Morgan said the firm had made a 鈥減ositive start鈥� overall in 2010. He said fit-out is picking up, thanks to demand for larger projects in the financial sector. Construction has moved from preferred bidder status to financial close on a number of deals, although he warned that there is uncertainty over the impact and timing of public spending cuts.

The statement continued: 鈥淚n summary, the group's forward order book has increased since the start of the year from 拢3.2bn to 拢3.6bn. In addition to the order book, Urban Regeneration's development pipeline remains at 拢1.4bn. The financial position of the group remains strong, with average cash for the year to date increasing over the level achieved for the comparable period in 2009.鈥�

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