Morgan Sindall Group PLC (LON:MGNS) saw its shares gain this morning after the construction firm said that first-half trading has been substantially ahead of the corresponding period last year, driven by improvements in margins and profits.
In a trading update for the six months to June 30, the small cap firm said its half-year results are expected to show pretax profit in the region of £23.5mln, around 45% higher than in the previous year.
It added that its cash performance has again been strong, with average daily net cash for the first half of £132mln.
Morgan Sindall said it now anticipates that its full year results will be "significantly ahead of its previous expectations" driven by a strong performance in its Fit Out businesss.
In mid-morning trading, Morgan Sindall shares were up 5.6%, or 68p at 1,288p.
The group will announce its half-year results on August 8.