Muse makes contribution to Morgan Sindall Group's half year results with its growing order book

We have contributed to the positive performance of our parent company Morgan Sindall Group, with our growing order book. The Groups Half Year results for 2025 have been published today (Tuesday 29^th July) on the London Stock Exchange.

Today’s results continue to represent Groups strong track record of delivering growth over the long term, with revenue up 7% to £2.4bn, profit before tax up 37% to £95.9m, supported by a PBTA margin of 4% – an expansion of 80 basis points when comparing to this time last year.

Over the last six months we have continued to build on our prior year successes by converting opportunities to signed development agreements. This success has meant that our order book currently stands at £4.6bn – a 150% increase since this time last year – with a further £0.7bn of opportunities at preferred bidder stage.

This progress underpins our long-term commitment to delivering meaningful change for communities across the UK by creating places where people want to live, work, visit, and grow.

New long-term strategic partnerships have been formed or strengthened and we have continued to build on our prior year successes in the first half of 2025 by converting five schemes previously at preferred bidder stage to signed development agreements, while also converting several opportunities into preferred bidder schemes.

This includes an agreement between Muse and Durham County Council for the first phase of an innovation district at Aykley Heads, while Prince’s Gate was a further site added to the existing partnership with Oldham Council.

Additionally, ECF – the joint venture between Muse, Homes England and L&G, entered new long-term partnerships with local authorities in Northampton and Hull to bring forward major town centre regeneration plans.

The first half of 2025 has also seen us secure six planning approvals with local and national partners, including for all six of the Oldham Town Centres sites, a new neighbourhood in Wolverhampton known as Smithgate, a Transport Interchange in the heart of St Helens and a Culture Hub in Wythenshawe – the first part of £500m plans to transform the town centre.

We have submitted planning applications for, the 1600-home regeneration of Mell Square in Solihull and 244 affordable homes in Horsham.

Across our regional offices in London, the Midlands, North West, and Yorkshire & the North East, the delivery of new homes, retail, leisure, workplaces and public spaces has continued across the country.

Over the last six months, six projects have started on site and by the end of 2025 a further six starts are anticipated, bringing the total to £277m Gross Development Value (GDV). This is expected to grow again next year with a further 15 coming to site with a GDV of £465m.

We have also made progress across other active projects, including on Willohaus, a second affordable Passivhaus housing scheme at Crescent Salford, and achieved practical completion on the Civil Service Hub at Talbot Gateway in Blackpool with a further 53,000sqft office currently on site for up to 1,100 MOD employees from Defence Business Services who will relocate to the town centre to boost the local economy.

To support this growing delivery pipeline we have invested in our partnership approach with the strategic hire of a new Managing Director of National Partnerships, alongside the appointment of a new Head of Residential.

As a business, we have strengthened the positive impact we are making in the communities where we work. This includes the official opening of the Salford Youth Zone in which Muse are patron donors, achieved RESI awards for ‘Outstanding Contribution to Affordable Housing’, and published its second “Our Sustainable Future Report”. This report shares progress on the delivery of sustainable new places and operations as a responsible business.

The Muse Academy also hosted new T-Level students and continued to support the professional development of an apprentice Trainee Project Manager and Graduate Development Manager.

Phil Mayall, Managing Director at Muse, said:

“By investing in the future, we are helping to create a bedrock for delivery at a significant moment for the country. This is supported by our appointment of several strategic senior hires which will help ensure Muse continues to deliver high quality regeneration and placemaking in partnership.

“Across the business there are numerous examples of our teams securing milestone planning approvals, forming or growing new relationships with local partners, and acting as genuine delivery partners with projects moving forward. We are excited to build on this in the coming months and years.”