(Reuters) -British construction company Morgan Sindall on Tuesday said it expects annual pre-tax profit to be significantly ahead of previous expectations, backed by strong growth in its construction
Morgan Sindall Anticipates Annual Profit Surpassing Expectations
(Reuters) -British construction company Morgan Sindall on Tuesday said it expects annual pre-tax profit to be significantly ahead of previous expectations, backed by strong growth in its construction and fit out divisions.
"Fit Out's strong trading activity experienced at the start of the year has continued, providing increased visibility for the rest of the year," the company said in a statement.
The segment, which specialises in interior fit-out and refurbishment projects for commercial clients, is expected to exceed profit expectations for the year.
Morgan Sindall also expects the operating margin of its construction business to be in the middle of its medium term target of 3.0% - 3.5% with revenues also set to exceed prior expectations.
The company's overall pre-tax profit for the year is expected at 186.96 million pounds, according to six LSEG analysts.
(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala)
