Profits and orders build up nicely at Morgan Sindall

Construction and regeneration specialist Morgan Sindall has reported a year of solid growth with strong contributions from its Scottish operations.

The group, which includes housing specialist Lovell and property development company Muse Developments, reported a 23 per cent rise in adjusted profit before tax to £81.6m million on revenue growth of 6 per cent. Total dividend was up 18 per cent to 53p per share.

Muse Developments recently delivered Aberdeen’s new £107m Marischal Square scheme (pictured above) and the Eurocentral Enterprise Zone in Mossend.

Sign up to our daily newsletter

The i newsletter cut through the noise

Stephen Turner, Muse Developments’ regional director for Scotland, said: “2018 was a strong year for Muse, with significant progress on many of our regeneration schemes across the UK and we are continuing that momentum in 2019.

“Our Marischal Square development has secured a range of new occupiers throughout 2018.”

Pat Boyle, managing director for Morgan Sindall Construction, said: “The past 12 months have proven to be a positive year for Morgan Sindall Construction, as we continue to focus on our customers’ needs and deliver a variety of complex projects across the country.”

The overall group reported a committed order book of £3.6 billion and a regeneration and development pipeline of £3.1bn.