Morgan Lovell has contributed to preliminary results for the year ended 31 December 2015 released today by parent company Morgan Sindall Group plc, the construction and regeneration group.

Office design, fit out and refurbishment specialist Morgan Lovell, which has offices in London and Bracknell, has contributed to preliminary results for the year ended 31 December 2015 released today (23 February 2016) by parent company Morgan Sindall Group plc, the construction and regeneration group.

The Group’s adjusted operating profit was up 34 per cent to £38.8 million (2014: £28.9 million) on revenues of £2,385 million which rose 7 per cent on the previous year (2014: £2,220 million). This was driven by 20 per cent revenue growth in Fit Out and in Construction & Infrastructure which was up 5 per cent.

The Group’s strategically important mixed-tenure regeneration housing activities in Affordable Housing, also saw a 29 per cent revenue increase. The reported operating loss for the year was £10.3 million (2014: £26.5 million profit) after taking account of exceptional operating items relating to two old construction contracts taken over on the acquisition of Amec in 2007.

The Group finished the year with a net cash position of £58 million (2014: £56 million). Adjusted earnings per share were up 35 per cent on last year at 63.0p (2014: 46.7p). The dividend for the year is 29.0p, up from 2014’s 27.0p per share.

"2015 was a busy year for Morgan Lovell and today’s release of our division’s financial results show that our design, workplace and delivery capability and strong client relationships have enabled us to trade strongly in the office design and build market ​Looking ahead to 2016, we are well-placed to take advantage of a number of commercial office schemes that are progressing through the development pipeline, both in London and within the business districts of the Thames Valley.”

Chris Booth, managing director of Morgan Lovell

Key projects for Morgan Lovell in London and the South this year include:

  • The refurbishment of disability charity Livability’s new national office, as it relocated from its long-term Shoreditch address to the Greenwich Peninsula in south east London. With a focus on delivering an innovative and fully-inclusive workplace, Morgan Lovell was able to transform the way Livability works by placing disabled accessibility at the front and centre of the office design.
  • An office design and build Cat B refurbishment for asset management firm Long Harbour, achieving a prestigious SKA Gold rating for its new London offices on Wigmore Street. Morgan Lovell worked closely with Long Harbour to create a design that demonstrated best practice, including the procurement of sustainably sourced furniture, fixtures and construction materials, energy efficient technology, recycling, waste reduction and corporate social responsibility initiatives.
  • Morgan Lovell was appointed to design and deliver the 25,000 sq ft Maidenhead headquarters of environmental services company SUEZ. The Cat A and B refurbishment will modernise the space bringing it up-to-date with its changing surroundings, whilst making the workspace more reflective of SUEZ’s business strategy.
  • The company also handed over the keys of newly-refurbished offices to global medical firm Convatec, analytics software specialist FICO, both in Reading, and Oxford-based Winton Capital Management.

At the Mixology Awards 2015, Morgan Lovell’s high specification fit out of software development consultancy ThoughtWorks was named Commercial Interiors Project of the Year for workspaces under 50,000 sq ft.