Morgan Sindall Group Announces Half Year 2020 Results

Morgan Sindall Group plc delivered results for the half year to 30 June 2020 which were unsurprisingly impacted by the COVID-19 pandemic, with adjusted profit before tax down 57% to £15.7m and revenue down 4% to £1,363m.

Importantly, however, the Group’s balance sheet remains strong, with average daily net cash in the period increasing to £153m and period end net cash of £146m. With its secured workload up 5% to £8.0bn, the Group is confident of future success and growth.

“Our commitment to delivering exceptional service for our clients has never been stronger. Our teams have worked tirelessly through these unpredictable months to serve our clients and maintain our reputation. We’re enormously grateful for all their efforts.

We’re proud of the part we’ve played in contributing to our parent company’s half year results during this challenging period,” says Chris Booth, managing director of Overbury.

Key projects during this unprecedented time for Overbury include:

• The fit out of 123,000 sq ft of office space for the Boston Consulting Group (BCG) in London
• A 45 week project for St Martins Property Investment Ltd at Hays Galleria, London
• Multiple projects under a framework for The Mayor’s Office for Policing and Crime (MOPAC) in London
• A 170,000 sq ft Category A fit out for landlord Lexo Ltd in Peterborough