Leading office interior design, fit out and refurbishment specialist Morgan Lovell, has contributed to preliminary results for the year ended 31 December 2017 released today by Morgan Sindall Group plc, the construction and regeneration group.
The Group delivered a strong performance for the year with adjusted operating profit up 41 per cent to £68.6 million (FY 2016: £48.8 million) on revenues of £2,793 million, a 9 per cent rise on the previous year (FY 2016: £2,562 million). The reported operating profit was up 42 per cent for the year at £67.4 million (FY 2016: £47.4 million) with the Group ending 2017 with a net cash position of £193 million (FY 2016: £209 million). Adjusted earnings per share rose 43 per cent on last year at £121.1p (FY 2016: 84.7p). The dividend for the year is 45.0p, a 29 per cent increase from 2016’s 35.0p per share. The Group’s order book was also up 6 per cent to £3.8 billion.
“2017 was another positive year for our division and we’re delighted to report a fantastic set of results,” says Chris Booth, managing director of Overbury and Morgan Lovell, the fit out companies of Morgan Sindall Group plc. “With office lease break activity and the lack of Grade A space continuing to generate opportunities for our division, we’re on track to maintain our market position. The higher education market is also growing, as colleges and universities compete to attract UK and overseas students, providing good visibility of future work. We’ve built a strong track record in large-scale schemes and will continue to focus on delivering high-quality projects for clients within our core markets.”