Morgan Sindall Group Plc (MGNS), a U.K.- based specialist construction company, said it still expects to meet company forecasts for 2011.
Average cash for the six months to June 30 was 44 million pounds ($70 million), 16 million pounds less than at the same time last year, although still ahead of company forecasts, Morgan Sindall said in a statement on Regulatory News Service.
The company has orders worth 3.6 billion pounds, little changed from the beginning of the year, the statement said.
Morgan Sindall said operating margins have narrowed as competitors fight for construction and infrastructure contracts, although it forsees a market recovery from 2012.
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