Morgan Sindall Property Services Adds to Parent Company Results
Repairs and maintenance specialist Morgan Sindall Property Services (MSPS) has contributed to half year results released today (4 August 2020) by parent company Morgan Sindall Group plc, the construction and regeneration group.
Morgan Sindall Group has delivered a record set of results for the first half of 2021, with trading substantially ahead of ‘pre-pandemic’ 2019 levels. Compared to 2019, revenue was up 10% to £1,559m (HY 2019: £1,421m) with adjusted operating profit of £54.8m (HY 2019: £37.5m), up 46%. The Group’s balance sheet has also further strengthened, with net cash of £337m and average daily net cash for the half of £294m. With three profit upgrades in the first half of the year and a high-quality order book with a secured workload of £8.3bn, level with year-end, the Group is well-positioned for continued future growth.
Alan Hayward, Morgan Sindall Property Services Managing Director, said: “The first half of 2021 continued to be challenging, but I am proud of how we have collectively responded with our frontline team following safe working practices to protect and deliver services to our residents.
We continued with our social value commitments, creating over £1.8 million in social value through community programmes which is needed now more than ever. Our social value team adapted within the circumstances, to reach some of the most excluded groups in our society, especially those disproportionately impacted by the pandemic. Engagement activity included energy cafes, supporting those who were affected by fuel poverty as a result of COVID, virtual work experience for students, mentoring sessions and over £27,000 in charitable donations.”
In July, MSPS was recognised by Domestic Abuse Housing Alliance (DAHA) for its commitment to tackling domestic abuse with a formal accreditation. DAHA and MSPS worked in collaboration to create a contractor’s accreditation, building a framework of commitments to support the early identification of residents who might be living with domestic abuse.
The accreditation commitments include the introduction of a domestic abuse policy, provision of related training to all employees and access to Domestic Abuse Workplace contacts (DAWs), who provide support to colleagues who maybe experiencing domestic abuse or need advice.
Alongside the accreditation, MSPS furthered its commitment to tackling domestic abuse by partnering with social enterprise, Pilotlight. Eight employees took part in the Unlocking Insights Programme to support Your Sanctuary, a domestic abuse charity based in Surrey. Employees provided strategic business support and advice to Your Sanctuary who are at the frontline of providing shelter to those fleeing domestic abuse.
MSPS also took the next step in its electric vehicle commitment and officially rolled out their first electric vans across the UK. The 13 new vans will join the eight electric cars already in its fleet, following its commitment to switch all cars and vans to electric by 2023.
MSPS is also investing in the UK’s EV charging infrastructure and will be installing electric vehicle charge points at employees’ homes, with charging points already installed at three offices in London.
