Reuters logo
Construction firm Morgan Sindall wins about 750 mln stg contracts
December 12, 2016 / 8:04 AM / a year ago

Construction firm Morgan Sindall wins about 750 mln stg contracts

Dec 12 (Reuters) - British construction company Morgan Sindall Group Plc said it had won three major infrastructure contracts worth about 750 million pounds ($943 million).

The contracts include extensions to its agreements for the Sellafield site in Cumbria and one with Heathrow Airport, the company said.

Morgan Sindall said last month that orders for rail and urban regeneration projects and shop-fitting work had been strong since July, and Britain’s vote to leave the EU had not impacted its business.

That outlook contrasted with companies such as British outsourcing services firm Mitie Group, which has complained of a slowdown in new business since the Brexit vote and issued two profit warnings since September. Outsourcing group Capita said it would sell its asset management services arm alongside a second profit warning in three months.

Both the firms have government and local authority customers similar to Morgan Sindall, which last month reported a 3 percent rise in order book since June 30, and said it was on track to deliver annual results in line with its expectations.

Growth in Britain’s construction industry unexpectedly touched an eight-month high in November, the Markit/CIPS UK Construction Purchasing Managers’ Index showed. ($1 = 0.7948 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below