Fit-out was a star performer for Morgan Sindall Group plc as it announced a strong set of preliminary results today for the year ending 31 December 2017.
The Group saw adjusted operating profit up 41 per cent to £68.6 million (FY 2016: £48.8 million) on revenues of £2,793 million, a 9 per cent rise on the previous year (FY 2016: £2,562 million).
Fit-out was the stand out performer, with revenue growth of 16% to £735m and significant margin improvement to 5.3% (FY 2016: 4.3%), delivering operating profit of £39.1m, up 42% (FY 2016: £27.5m).
Construction & Infrastructure made further operational progress with an improved operating margin of 1.5%, up from 0.7% in the prior year, returning a divisional operating profit of £20.4m (FY 2016: £8.9m).
John Morgan, chief executive, said: “These strong results are evidence of the significant operational progress being made across the Group and are a testament to the high quality and commitment of our people.
“Looking ahead to 2018, we expect continued margin progression in Construction & Infrastructure, another strong performance from Fit Out, further growth from Urban Regeneration and Partnership Housing, and positive contributions from Property Services and Investments.”