Fears about the state of the commercial property and office fit-out market failed to dent Morgan Sindall's profits as the company argued it was in a good position to ride out the current economic uncertainty. Financial Times, The Times

Morgan Sindall's share price has fallen 40% since September because of its exposure to the commercial property market and fears about a wider economic downturn.

John Morgan, executive chairman, said forward orders were healthy and he was confident over trading prospects for 2008, in spite of tougher conditions. But he added that he was less sure about the prospects for 2009.

Morgan said the fit-out division, which installs and refurbishes offices, was likely to be flat after its best ever year in 2007.