Morgan Sindall Group has issued a revised profit projection for the 2025 financial year after an ‘accelerated’ performance by the group’s fit-out division.
The group said it is now anticipating delivering an adjusted pre-tax profit for the year slightly ahead of what it had previously reported of £178 million.
“The fit-out division has experienced an acceleration in its trading momentum and is now expected to exceed both the group’s previous expectations and the top end of its revised medium-term targets of £60-£85 million,” a trading update reads.
It follows Morgan Sindall Group recently announcing another record financial result for the year ended 31 December 2024.
The fit-out division delivered an 18 per cent boost in revenue to £1.3 billion (FY2023: £1.1 billion) and a 38 per cent increase in operating profit to £99 million (FY2023: £71.8 million).
While the construction business’ operating profit was up 19 per cent to £30.9 million, alongside an improved revenue position of more than £1 billion.
Morgan Sindall turned in an improved group operating profit of £162 million, up 15 per cent from £140.6 million in the previous year, against a 10 per cent rise in revenue to £4.5 billion, and a secured order book value of £11.4 billion, up 28 per cent on the previous period.
“All other divisions are broadly on track to perform in line with the group’s previous guidance and expectations”, said the group.
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