Repairs and maintenance specialist Morgan Sindall Property Services has contributed to Morgan Sindall Group’s strong performance for the year end of 2020, in figures released today by the construction and regeneration group.
Morgan Sindall Group demonstrated resilience in the face of the COVID pandemic, delivering an adjusted operating profit of £68.5m (FY 2019: £93.1m) on revenue of £3.0bn (FY 2019: £3.1bn). The Group reported a secured order book of £8.3bn, up 9% year-on-year. With a strengthened balance sheet and net cash of £333m (FY 2019: £193m), the Group has ended 2020 with real momentum. It now expects profit to be materially ahead of its previous expectations and slightly ahead of that delivered in 2019.
Alan Hayward, Morgan Sindall Property Services Managing Director, said: “I am proud of how our business has responded to the pandemic. Our dedicated employees have continued to deliver essential services in a responsible and agile way, alongside providing new solutions to support the communities we operate in.
As a business we acted swiftly, collaborating with clients and partners to address the risks posed by the pandemic, including launching our COVID-19 Portal, providing a platform for all customer queries.
Despite the challenges that 2020 brought, we won three major contracts with Home Group Housing Association, and London Borough of Hammersmith and Fulham with an overall value of £171m, contributing to an order book which now stands at £970m.
Last year we launched our Data Insight model, helping our clients to make better investment decisions, improve customer experience, and making sure our social value initiatives meet the different needs of each community.
A key part of this was how we help our frontline staff identify potential risk and vulnerabilities in the communities we serve and working with our clients so that residents get the support they need.
We also won Most Improved Asset Management Service, at the National Housing Maintenance Forum (NHMF) awards in partnership with St Albans City and District Council, where we were recognised for our innovative use of data insight and technology, improving the efficiency and quality of service provided to SADC 5,000 properties.
We can look back on the year where we found solutions to deliver projects in challenging circumstances and tackle the key issues affecting the people within our communities.”