BULL POINTS:
â– Strong order book
â– Diverse revenue stream
â– Decent earnings visibility
â– Shares undemandingly rated for the sector
BEAR POINTS:
â– Office fit-out business is struggling
â– Exposed to possible government spending cuts
IC TIP:
Buy
at
678p
There's no corner of commerce that hasn't been affected by the global economic slowdown, but Morgan Sindall's diverse revenue stream does at least leave the group looking better placed than most. Indeed, the company's operations are ranged across five core operating divisions - office fit-out, construction, infrastructure services, affordable housing and urban regeneration.