Morgan Sindall Group has reported an impressive performance for 2024, achieving double-digit growth in both revenue and profit, marking another record-breaking year for the construction and regeneration giant.

For the year ending 31st December 2024, the company’s revenue rose by 10% to £4.55bn (2023: £4.12bn), while pre-tax profit surged by 19% to £171.9m (2023: £143.9m). The group’s financial position remained strong, with net cash standing at £492m, up from £461m the previous year.

The standout performer was Overbury, the fit-out division, which saw operating profit soar by 38% to £99m (2023: £71.8m) on an 18% rise in revenue to £1.3bn. Morgan Sindall Construction also delivered a strong performance, with a 19% increase in operating profit to £30.9m and revenue climbing by 8% to £1.04bn. The division’s secured order book grew 20% year-on-year to £952m, with an additional £1.18bn of work at preferred bidder stage.

Morgan Sindall Infrastructure also expanded, with an 18% increase in revenue to £1.05bn. However, operating profit remained steady at £38.5m, with a slightly reduced margin of 3.7%, attributed to the timing of project starts and completions. Despite this, the division’s order book rose by 11% to £1.88bn, with 98% of projects secured through frameworks.

The group’s housing divisions also saw positive results. Partnership Housing (Lovell) increased operating profit by 18% to £36.1m, while revenue grew to £861m. Meanwhile, Mixed Use Partnerships (Muse) recorded a more modest operating profit of £1.5m, down from £14.8m in 2023, but saw its secured order book more than double to £4.1bn.

Chief executive John Morgan reflected on the company’s success, crediting the strength of its diverse operations and dedicated workforce. He highlighted the group’s ability to support the government’s affordable housing and social infrastructure plans, leading to upgraded medium-term targets for four of its six divisions.

Looking ahead, Morgan acknowledged ongoing economic uncertainty but remained optimistic about 2025. With a growing and high-quality order book spanning multiple sectors, the company is confident in its ability to continue delivering strong results and sustainable growth in the coming year.

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