Morgan Sindall reported it saw a growth in profits during 2015 and expects momentum to continue into this year…
The increase of infrastructure and housing projects is undoubtedly having a positive impact on the construction sector.
Morgan Sindall has reported it saw a significant growth in its profits last year, with adjusted pre-tax profits up 36 per cent to £34.3m in 2015. This was on the back of a seven per cent increase in revenue to £2.39bn, which pushed the dividend to 29p.
Chief executive John Morgan said the figures showed “evidence of the strategic and operational progress” made by the group during the year.
“Looking ahead to 2016, the positive momentum across the Group is expected to continue,” he said.
“A strong level of performance from Fit Out is anticipated, together with further strategic progress in Urban Regeneration and profit growth in Affordable Housing, driven by its mixed-tenure regeneration activities.
“With a further steady recovery in the performance of Construction & Infrastructure also expected, the group is in a strong position to deliver on its expectations.”
Among some of the major projects on the firm’s books is a year-long project to refurbish a 100,000 sq ft building at Coventry University, and work on 55 Colmore Row in Birmingham city centre.