Fit Out Specialist Boosts Parent Group Results

National fit out and refurbishment specialist Overbury which has offices in London, Birmingham, Bracknell, Glasgow, Leeds and Manchester, has contributed to half year results released on 8 August, by parent company Morgan Sindall Group plc, the construction and regeneration group.

Morgan Sindall Group has delivered profit growth in the first half of this year with adjusted operating profit up 28% to £31.9m (HY 2017: £24.9m) on revenue of £1,423m (HY 2017: £1,307m), a 9% increase on the previous half year. The Group reports an order book of £3,604m with adjusted earnings per share up 28% for the period to 55.6p (HY 2017: 43.6p). The interim dividend has been increased by 19% to 19.0p (HY 2017: 16.0p) with the Group confident of a strong performance for the second half of 2018.

“Our reputation for high-quality fit out, exceptional service delivery and our committed order book, has given us a strong start to 2018,” says Chris Booth, managing director of Overbury. “Increased operational efficiencies, a range of projects across many sectors, and our regional reach for national clients has enabled us to maintain a set of results which are industry-leading. We’re proud to have contributed to a strong first half for the Group.”

Key projects for Overbury in 2018 include:

National

• Overbury has been appointed to the Department of Work & Pensions (DWP) Estates Contractor Framework for London & South East, Scotland and the North East. It is one of four contractors working with the DWP to upgrade the estate of the UK’s largest government department.

North

• Completion of a fit out of a new Manchester office for property services firm CBRE, with 11,300 sq ft in the flagship office development One St Peter’s Square.
• A new fit out of the Darlington office of diesel engine manufacturer Cummins UK, helping the firm to continue its investment in the region.

Central

• Ongoing projects for the University of Birmingham in the School of Engineering and School of Education buildings.
• Completion of a phased refurbishment in occupation of circa 50,000 sq ft of office space for National Grid at its headquarters in Warwick.

London

• Fit out and upgrading of 27 storeys, including existing office floors and roof repairs, for Royal Dutch Shell on the Southbank.
• Completion of a fit out of Deloitte’s UK headquarters at New Street Square, London of circa 276,000 sq ft of office space.
• A circa 12,000 sq ft CAT B office fit out starting on level 36 of the 755ft Salesforce Tower in Bishopsgate, the City’s tallest building, for a future tenant.
• A new project for fashion house Alexander McQueen to fit out the company’s circa 30,000 sq ft new headquarters in East London.

Southern

• A new 28,000 sq ft office fit out for the University of Bristol at 1 Cathedral Square to house services from elsewhere within the university estate including Research and Enterprise Development and the Development and Alumni Relations Office.
• Completion of phase one of a multi-phase project to fit out circa 150,000 sq ft of office space for energy company RWE Generation UK at their Swindon headquarters.