Leading office interior design, fit out and refurbishment specialist Morgan Lovell, have contributed to preliminary results for the year ended 31 December 2016 released today by parent company Morgan Sindall Group plc, the construction and regeneration group.

The Group’s adjusted operating profit was up 26 per cent to £48.8 million (FY 2015: £38.8 million) on revenues of £2,562 million which rose 7 per cent on the previous year (FY 2015: £2,385 million). The reported operating profit for the year was £47.4 million (FY 2015: £10.3 million loss). The Group finished the year with a significantly improved net cash position of £209 million (FY 2015: £58 million). Adjusted earnings per share were up 34 per cent on last year at 84.7p (FY 2015: 63.0p). The dividend for the year is 35.0p, a 21% increase from 2015’s 29.0p per share. The Group’s order book was also up 29% to £3.6 billion.

“2016 was another record year for our division. Morgan Lovell’s results released today show that we have continued to gain traction in our core markets by focusing on delivering consistent and high-quality fit out, nationwide,” says Chris Booth, group managing director of Overbury and Morgan Lovell. “Looking ahead to 2017, our committed order book gives us confidence that clients will continue to entrust us with their complex projects knowing that we are professional and passionate about service delivery. We look forward to seeing the year progress and working with our peers and supply chains to deliver commercial fit outs that make our clients proud.”

Key projects for Morgan Lovell in 2016 included:

  • 31,000 sq ft new office by Morgan Lovell for NYK, one of the largest shipping companies in the world, in Canary Wharf, London.
  • 25,000 sq ft refurbishment of the headquarters of Swiss chocolatier and confectionery company Lindt and Sprüngli UK in Feltham by Morgan Lovell.
  • 21,000 sq ft fit out by Morgan Lovell for global medical technology business Smith & Nephew in Croxley Green Business Park in Watford, and an 8,000 sq ft project for Smith & Nephew in central London.

Morgan Sindall’s Fit Out division also attained a number of environmental achievements in 2016 Morgan Lovell’s completion of a highly sustainable and environmental office fit out for the UK Green Building Council in central London, which achieved the lowest embodied carbon footprint ever recorded for an office refurbishment in the UK.