Number will be ahead of analysts鈥� previous consensus figure of 拢134m

A booming fit-out market has meant Morgan Sindall has upgraded its profit forecast for 2023.

In a trading update this morning, the firm said profit from its fit-out business, which is one of two firms bidding the new Google headquarters building at King鈥檚 Cross, had helped swell group profit to around 40% above the level it reported for the first half last year.

In the six months to June 2002, operating profit at the business went up 4% to 拢56m.

overbury

Morgan Sindall鈥檚 Overbury fit-out business is one of two bidding the Google HQ scheme in King鈥檚 Cross

In this morning鈥檚 update, Morgan Sindall added: 鈥淎s a result of the continued strong momentum in Fit Out and its forward order book for the second half, together with the anticipated net prospects for the rest of the Group, the Board now expects full year profit for the Group to be ahead of its previous expectations.鈥�

Analysts had been expecting the firm to post revenue of 拢3.67bn this year with the consensus for pre-tax profit coming in at around 拢134m. Pre-tax profit last year was down to 拢85m after the firm was hit by a building safety exceptional charge.

The firm will release its interim results for the six months to June on 3 August.

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