Our parent company Morgan Sindall Group announces positive full year results

We have contributed to the positive financial results released by our parent company, Morgan Sindall Group. The Group’s Full Year results for 2025 have been published today (25th February 2026) on the London Stock Exchange

With strong and robust earnings growth, the Group delivered a strong performance in 2025, with Group revenue increasing by 10% to over £5bn, while adjusted Operating Profit increased by 39% to £232.6m.

Over the last 12 months we’ve been preparing sites across the country as part of a strategic expansion of our development pipeline to £6.3 billion (including preferred bidder positions). In the last year this has increased by 31%.

A diverse pipeline

Our diverse pipeline includes circa 22,000 new homes across 24 communities spanning the country. Of these, more than a quarter will be affordable. It also includes retail, leisure, logistics, workspaces and public spaces.

Our progress underpins a long-term commitment to creating successful, sustainable places across the country, that are designed to improve the lives of those in communities.

Building on the success of previous years, 2025 saw a total of eight opportunities turn into signed development agreements. This included agreements with Durham County Council for the first phase of an innovation district at Aykley Heads, Salford City Council to regenerate Eccles town centre and a partnership was signed with Manchester City Council for the £500m plans to transform Wythenshawe town centre.

Long-term partnerships

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

Later into the year this progress was further built on, with ECF selected as preferred development partner for Gateshead Council’s Baltic Quarter.

Since the start of 2026, ECF were named as Westmorland & Furness Council’s strategic development partner for Marina Village in Barrow, alongside our selection as preferred development partner for Temple Meads West and St Philip’s Marsh by the Bristol Temple Quarter Limited Liability Partnership (BTQ LLP).

Habiko, our affordable homes partnership with Pension Insurance Corporation (PIC), and Homes England, also kickstarted its plans to deliver 3,000 low carbon, low energy affordable homes across England with the announcement of its first two development sites for 590 new homes in Chester and Warrington.

In February 2026, Habiko announced a further 228 homes in the West Midlands. Forming one phase of the wider Solihull town centre redevelopment, Habiko will bring forward well-designed, affordable homes that complement and support the broader mixed-tenure vision for Holbeche Place.

Place-based partnership approach

This further demonstrates the strength of our place-based partnership approach which is championed by regional teams across the country and supported at a central strategic level. This is a model which was enhanced in 2025 by our investment into the strategic hire of Lisa Gledhill, Managing Director of National Partnerships.

2025 saw nine planning approvals with local and national partners, including for all six Oldham Town Centres sites, a Transport Interchange in the heart of St Helens, 244 affordable homes in Horsham, and a brand-new acoustics research, testing, and teaching facility at the University of Salford as part of the £2.5bn Crescent Salford masterplan.

We submitted planning applications for the 1600-home regeneration of Holbeche Place in Solihull, and the 1000-home Bradford City Village vision being brought forward through ECF, with both approved in February 2026.

In London, the Midlands, North West, and Yorkshire & the North East, regional teams are working with local partners to deliver on this pipeline and translate visions into reality.

In September 2025, the third phase of Talbot Gateway was completed, with the creation of a new, highly sustainable workspace for over 3,000 employees from The Department for Work and Pensions (DWP). Elsewhere, we handed over the first affordable homes at the landmark Stroudley Walk in Bromley-by-Bow in October 2025.

At the end of the year, seven major projects were on site with a total of £205 million Gross Development Value (GDV). This included the £14m multi-storey Travel Hub, as part of the £100 million Prestwich Village regeneration, and the next phase in the delivery of ECF’s state-of-the-art St Helens Transport Interchange, with St Helens Borough Council.

This is expected to grow in 2026, with a further 17 coming to site with a GDV of £448 million, which includes a total of 2,598 new homes.

Industry collaborations

Against the backdrop of the national government’s continued focus on supporting transformation and accelerating regional growth, we have additionally expanded our collaborative partnerships with the wider industry.

This includes the BITC – Business in the Community, Passivhaus Trust, The Association for Rental Living, NLA, British Property Federation, West London Business, Business LDN, The Northern Powerhouse Partnership, Northern Housing Consortium, Quality of Life Foundation, and Manchester’s Cyan Lines.

A responsible business

As a responsible business, we’ve strengthened the positive impact we are making in the communities where we work. This included the opening of the Salford Youth Zone in which we are patron donors, achieving RESI awards for ‘Outstanding Contribution to Affordable Housing’, and publishing its second “Our Sustainable Future Report”. This report shares progress on the delivery of sustainable new places and operating as a responsible business for our partners and people.

Our Muse Academy has also expanded further, as we hosted new T-Level students, work experience programmes, and continued to support the professional development of two Trainee Project Managers and a Graduate Development Manager.

Phil Mayall, Managing Director, said: “We are pleased to contribute to the performance of our parent company Morgan Sindall Group.

“To be in this position is by no coincidence. It is the result of the significant work which has been undertaken by our exceptional teams in partnership with our national and local partners.

“We are excited to be at a point of real opportunity to drive forward positive, meaningful, growth. We are looking forward to building on this national momentum by creating high-quality, sustainable, places where people can live, work and thrive.”