Fit-out specialist with Edinburgh and Glasgow offices sees return to pre-pandemic income
Turnover for the last financial year, ending December 2021, increased by 30 per cent to more than £93 million, from some £73m in 2020. The group achieved an operating profit of £1.1m, up 50 per cent on the previous year.
The latest accounts also highlight a strong balance sheet, low cost of debt and high level of secured workload for the year ahead.
The last year has seen the business expand its service offering while taking on large projects with key clients, including the University of Glasgow, Circle Health Group, Britvic and Leeds Teaching Hospitals NHS Trust.
Chief executive Jon Dunwell said: “The last year has undoubtedly been a pivotal one for Morris & Spottiswood, and I’m proud to post such a strong set of financial results to December 2021.
“While we are mindful of continuing inflationary pressures and supply constraints on materials and labour, we anticipate further growth for 2022, with the year ahead looking strong.
“The acquisition of Livingston Building Services has expanded our offering for clients, giving us a real point of difference as a business and allowing us to provide a range of services across a diverse mix of sectors.”
Livingston Building Services was established in 1992 and is now a subsidiary of Morris & Spottiswood having been acquired in February of this year.
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