Construction group feeling confident as national profits rise 28%
PUBLISHED: 10:20 08 August 2018 | UPDATED: 10:20 08 August 2018
Two East Anglian construction companies have welcomed strong half-year results from their parent company.
Morgan Sindall Group reported turnover of £1.42bn in the first half of 2018, up from £1.3bn a year earlier, while operating profit rose by 28% to £31.9m.
Its regional office in East Anglia has seen recent contract wins including the construction of the £23m West Suffolk Operational Hub near Bury St Edmunds and the Centre for Environment, Fisheries and Aquaculture Science’s (Cefas) new £16m headquarters in Lowestoft.
Pat Boyle, Morgan Sindall’s managing director for construction, said: “We have a strong forward pipeline and an experienced and stable team in place and are confident that we will end the year in a good position and continue to build on our excellent reputation.”
Meanwhile sister company Lovell, which has a regional base on Broadland Business Park in Norwich, has a forward order book worth £180m and expects to complete more than 350 new homes in the region in 2018. Key projects include the £58.6m, 210-home Health Farm development in Holt and Firs Park in Hellesdon, a £13.8m, 67-home development.
Lovell managing director Steve Coleby said: “Our strong record of working with housing association and local authority partners to answer the demand for new homes and unlock land for development means we are well placed to help bring forward quality homes available to people across a range of incomes in the places where they are most needed.”