Morgan Sindall generated an improved operating profit margin of 3% in 2019 (up from 2.9% in 2018), as its revenue for the year passed the £3bn mark.
The contractor recorded revenue for the year ended 31 December 2019 of £3.1bn, an increase of 3% on the previous year. Adjusted profit before tax rose by 11% to £90.4m.
Meanwhile, the company’s order book as at the year end was up 14% to £7.6bn.
Operating margin within the firm’s construction and infrastructure division was up to 2.2% from 2% in the previous year, with operating profit up 20% to £32.3m. Its fit-out arm saw operating profit decline to £36.9m (compared to £43.8m in 2018), while operating margin was 4.4% (down from 5.3%).
There was a strong rise in operating profit in the company’s partnership housing business, 50% to £18.3m. Operating profit in urban regeneration was flat at £19.4m (£19.6m in 2018), while adjusted operating profit in property services more than doubled to £4.3m.
Morgan Sindall chief executive John Morgan said the company had the flexibility to be able to be “highly selective” in its bidding.
He added: “These strong results reflect the high quality of our operations and are testament to the work and commitment of all our people. Our strategic focus on construction and regeneration underpins the positive momentum across the group and provides the platform for future progress.”
