Morgan Sindall Group plc delivered strong profit growth in 2019, with adjusted profit before tax up 11% to £90.4m on revenue of £3,071m, up 3%.
In addition, the group’s balance sheet remains strong, with average daily net cash in the year increasing to £109m and year end net cash of £193m. With its secured workload up 14% to £7.6bn, the group says it is well-positioned for future growth and expects another good year of progress in 2020.
Morgan Sindall’s construction & infrastructure arms both made strong contributions to the group’s annual results.
Pat Boyle, managing director for Morgan Sindall construction, said: “2019 was a very successful year for us, winning and delivering some exciting projects and being named on a number of key frameworks. This was topped by being awarded Investors in People Platinum status in December. This investment in the wellbeing and advancement of our people is a key factor in our ongoing success. I look forward to continuing this trend in 2020.”
Simon Smith, managing director for Morgan Sindall infrastructure, said: “We’re delighted with these results - we believe in improving the infrastructure of the UK for everyone and are committed to making this a reality in all aspects of our work. This commitment extends from the successful delivery of the projects themselves, to our social value work where we manage a number of social enterprise schemes focused on creating jobs in areas otherwise lacking in opportunities. We look forward to working with all our stakeholders to continue this trajectory for the benefit of everyone.”