Place-changing regeneration contributes to Morgan Sindall Group plc’s results
17.10.22 2 min read
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, The English Cities Fund, 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: