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Investing.com -- U.K. construction firm Morgan Sindall Group PLC (LON:MGNS) saw its shares soar over 14% on Tuesday after the company said it expects full-year pre-tax profit to come in significantly above earlier forecasts, supported by strong performances in its construction and Fit Out segments.
"Fit Out’s strong trading activity experienced at the start of the year has continued, providing increased visibility for the rest of the year," the company said. "Profits are now expected to significantly exceed the Group’s previous expectations."
Meanwhile, the construction unit’s operating margin is expected to land within the middle of its medium-term target range of 3.0% to 3.5%, with revenue also anticipated to exceed earlier projections.
According to six analysts surveyed by LSEG, Morgan Sindall’s annual pre-tax profit is forecast to reach 186.96 million pounds, Reuters said in a Tuesday report.
Morgan Sindall said all other divisions are expected to deliver results in line with the group’s earlier guidance.
The company is set to release its half-year results for the six months ending June 30, 2025, on July 29, 2025.