Contractor reports 'solid start' to 2012
Morgan Sindall has reported a ‘solid start’ to the year, ahead of its annual general meeting today.
The contractor, which carries out social housing work through its Lovell division, said it is on track to meet its trading expectations.
In the statement it says there has been ‘modest improvement’ in market conditions in the affordable housing sector, although it adds it is ‘cautious’ about the outlook due to problems for first-time buyers in accessing mortgage finance.
It says the division is concentrating on mixed-tenure regeneration schemes, looking for ‘land-swap opportunities’ to offset the lack of grant funding for social housing.
The company has won several affordable housing contracts since the start of the year, including a £28 million regeneration project for Southampton City Council, a £12 million home improvement scheme in Northamptonshire, and a place on a £300 million framework for Alliance – a partnership between three housing consortia.