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Place-changing regeneration contributes to Morgan Sindall Group plc’s results

17.10.22 2 min read by Ryan Devlin

We’re proud to have contributed positively to half year results released by our parent company Morgan Sindall Group plc, the construction and regeneration group. 

 The Group delivered a record performance in the first half against a difficult market backdrop, with Group revenue increasing by 9% up to £1,698m (HY 2021: £1,559m), while adjusted operating profit increased 4% to £56.9m (HY 2021: £54.8m). The Group demonstrated continued balance sheet strength with net cash at the period end of £274m and has a high-quality order book with a secured workload of £8.5bn. 

 We’ve had a strong start to the year, delivering place-changing regeneration in collaboration with our partners in 40 places across the UK. We’re currently on site with 19 projects, including close to 2,500 homes, with a total construction value of £878m and gross development value of over £1.2bn. Our order book and forward development pipeline now stands at £2.2bn. 

 Our highlights so far this year include our national strategic partnership with Homes England and Legal & General, ECF, being extended another 10 years and continued momentum on rolling out our industry-leading sustainable development strategy, ‘Our Sustainable Future’. 

Kate Bowyer, managing director, said:

Our focus continues to be creating vibrant, sustainable places that improve the fortunes of our towns, cities and local communities.”
We’ve had a strong start to the year, with some important milestones including the extension of our ECF joint venture, which uniquely positions us to deliver vital regeneration and placemaking, complementing the national levelling up agenda.”
We’ve been working with the public and private sector to overcome challenges and unlock complexity for nearly 40 years. We’ll continue collaborating with our partners around the UK to solve problems for communities through our places and build a brighter future, together.”
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