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Friday, February 24, 2024

Morgan Sindall announce record profits

UK construction and infrastructure group Morgan Sindall have announced record profits helped by divisional operations Morgan Est, and Lovell. The company turned in a pre-tax profit in the year to December 31 of £41.7 million - a rise of 23% on the previous year - on turnover up by 6% to £1.29 billion. The group employs more than 5,000 people in the UK.

Morgan Sindall has four divisions: fitting-out offices, construction of schools and hospitals, housing, and civil engineering including work on a new terminal at London's Heathrow Airport and the Channel Tunnel rail link with France.

The company, established in 1994 from the reverse takeover by William Sindall of Morgan, said the shortage of affordable housing meant its Lovell business had an order book of £1.34bn over ten years.

Within Scotland the group is working on carrying out Scottish Water's £1.8bn waste and water network renewal project and the Rosyth strategic link road.

The company's Lovell affordable housing arm is currently working on Edinburgh council's kitchen and bathroom replacement programme and building 91 homes in Oxgangs for Dunedin Cranmore Housing Association. And its Morgan Est infrastructure wing is behind the building of a new rail depot at Haymarket.

Morgan Sindall has been picked as preferred partner for a regeneration scheme in Manchester, worth up to £200m to the company.



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