Orders will top £14bn at the end of the calendar year, well up on the £12.6bn recorded at the end of December 2018, even without including work won on the HS2 civils or station contracts, to be added when the project receives the green light.
Revenue is expected to be 5% higher, the FTSE 250 group said in a year-end update, with profit from operations broadly flat and average monthly net cash to come in at £310mln, ahead of guidance.
Broker Peel Hunt upped its profit before tax forecast to £200mln from £165mln, lifting earnings per share to 26p from 21p.
“In common with the wider sector, the shares remain under considerable pressure,” analysts at said in a note.
“However, we sense with the current market backdrop and momentum there could be scope for further strategic and operational outperformance.”
Shares were up 4% to 238.6p on Thursday morning.