Trading in line with expectations despite slump in fit out market
Revenue for Morgan Sindall鈥檚 fit out division is expected to fall by more than a third this year compared with 2008, the group revealed today.
In its interim management statement, covering the period from 1 July to 9 November, the group said its forward order book had dropped slightly to 拢3.4bn since 30 June 2009.
But the firm added that it remained 鈥渇inancially robust鈥� given the challenging market conditions.
In its other divisions, Morgan Sindall said construction had performed strongly, despite the uncertainty surrounding future public spending commitments.
However, the group said its Urban Regeneration鈥檚 market remained 鈥渟ubdued鈥� and that it expected the division to make only a small contribution in 2009.
Morgan Sindall said: 鈥淲e remain mindful of the challenges facing the sector in the longer term and continue to shape our business accordingly.鈥�
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