Morgan Sindall secures £2.2bn workload
A growing emphasis on regeneration projects has grown construction company Morgan Sindall's pipeline of work to £2.2bn, the company said this morning.
Warwickshire-based Morgan Sindall told the Stock Exchange in a trading update that its pipeline had been boosted from £1.4bn in 2010 to £2.2bn at its 2011 December year-end.
A further £1bn of contract bids are now at preferred developer stage, it added.
Morgan Sindall's construction division is "trading positively in mixed market conditions", said the company. The division was recently selected as preferred bidder for electricity transmission overhead line work for National Grid potentially worth £500m.
It also secured, in joint venture, the Whitechapel Main Station Works Crossrail contract worth £110m.
The company said its urban regeneration market was "slowly improving". Through the trading update, it added: "The urban regeneration division's development pipeline has increased significantly since the start of the year, and this is bolstered by significant opportunities at preferred bidder.
"We remain confident that the division is making good progress with positioning schemes to capitalise on demand when market conditions improve."
