Morgan Sindall Group (MGNS) Trading Update summary

Profit outlook

• Group profit before tax (PBT) for 2025 is now expected to be significantly ahead of previous expectations.

• Fit Out division's strong trading has continued, with profits set to significantly exceed prior forecasts.

• Construction division's operating margin is projected to be in the middle of its 3.0%-3.5% target range, with revenues also surpassing earlier expectations.

• All other divisions are performing in line with previous expectations.

Operational performance and outlook

• Increased trading visibility for the remainder of 2025 due to sustained strong activity in Fit Out.

• Construction division's strong progress is driving profit expectations higher.

• Half year results for the six months to 30 June 2025 will be announced on 29 July 2025.