UK's Morgan Sindall at record high on upbeat annual forecast

Morgan Sindall

02/10/2025 09:55

** Shares of construction co Morgan Sindall MGNS.L jumps 12.3% to record 4,920 pence

** Top gainer on FTSE mid-cap index .FTMC, which is up 0.2%

** Co says FY25 results to be "significantly" ahead of its expectations

** Analysts, on average, expect 221.1 million pounds ($298.40 million) in pre-tax profit for FY25 - per LSEG data; in 2024 co reported adj pre-tax profit of 172.5  million pounds

** Peel Hunt raises PT to 5,000p from 4,800p with "Add" rating

** We maintain FY26 estimates for now, but investors will be thinking ‘when’ rather than ‘if’ regarding the next positive move - Peel Hunt

** Including session's gains, MGNS up 23.7% YTD, while FTMC grows 7.1%

($1 = 0.7410 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)

 ((DhanushVignesh.Babu@thomsonreuters.com;))