Morgan Sindall is a construction and regeneration group. Operating through five main divisions and one specialist unit focused on different sectors within the market, the Group offers clients a market leading construction service based on strong financial and management principles.
Our breadth of experience and capability enables us to deliver integrated solutions to our clients for all sizes and complexities of construction and regeneration projects.
Our culture is one of pace, dynamism, excitement and openness.
This report details our performance in 2009, our markets, strategy and the potential risks that may impact our business.
Our strategy
Our vision is to create a construction and regeneration group with market leading positions in our chosen sectors.
We endeavour to do this by:
- delivering a quality construction service in close collaboration with our clients;
- operating safely and sustainably;
- growing profitable businesses;
- generating cash resources to develop our businesses and to fund acquisitions; and
- producing strong shareholder returns.
The success of the Group is underpinned by continual investment in recruitment, development and retention of talented people.
Many of the Group’s divisions pursue a quality initiative called Perfect Delivery. Perfect Delivery sets out for each of the divisions a series of cornerstones to shape attitudes and processes towards exceptional delivery. These cornerstones are widely published and measured within each project and frequently include: delivery on time, defect free completion, budget achievement, provision of all technical and record information, as well as project specific measures defined by our clients.
Revenue £m
13%
Profit before tax and amortisation £m
28%
Morgan Sindall’s Fit Out businesses refurbish and fit out offices, bank branches, hotels and universities. They offer clients a high quality national capability through a network of three businesses operating out of eight offices:
- Overbury specialises in office refurbishment and fit out, working with clients directly through their professional teams;
- Morgan Lovell offers a one-stop service covering every aspect of design, project management and fit out; and
- Vivid Interiors undertakes fit out and refurbishment projects in the retail banking, hotel and higher education sectors. It works both directly with clients and through appointed professional teams.
Morgan Sindall’s Construction division comprises Morgan Ashurst and Morgan Professional Services:
- Morgan Ashurst is a national construction business working for public and commercial sector clients on projects valued from £50,000 to over £300m. These range from small works, repair and maintenance services to complex large-scale projects, and
- Morgan Professional Services is a design, engineering and project management consultancy specialising in complex and technically challenging construction projects.
Morgan Sindall’s Infrastructure Services division, operating under the Morgan Est brand, is one of the UK’s leading providers of infrastructure services offering an integrated capability to customers. The division is split into four main business units, which work together to provide integrated solutions across the transport, water and energy sectors:
- infrastructure: specialising in the design and delivery of complex projects in the roads, water and energy sectors;
- utilities: network solutions in water, gas and electricity;
- capital projects: specialising in the design and delivery of complex projects in the air and rail sectors; and
- tunnelling: the UK’s leading tunnelling contractor, with in-house piling, design and pre-cast capabilities.
Morgan Sindall’s Affordable Housing division operates under the Lovell brand. This business develops, constructs, refurbishes and maintains affordable, social and open market housing.
The division operates in four core markets:
- refurbishing existing local authority and housing association stock under the Government’s Decent Homes initiative;
- building new housing for social rent and shared ownership, working in partnership with registered social landlords and local authorities;
- building affordable homes for sale on the open market as part of mixed tenure regeneration; and
- responsive and emergency maintenance of homes for public sector residential property owners.
Morgan Sindall’s Urban Regeneration division operates under the Muse Developments brand. It specialises in working with landowners to unlock value from under-developed land assets and to bring about urban renewal and regeneration.
The division works in partnership with landowners, local authorities and other public and private sector partners to progress development opportunities and maximise the contribution to urban renewal through ‘mixed use’ projects, typically including commercial and leisure space, residential accommodation and community facilities.
Muse Developments has developed a dynamic and resilient business model offering long-term opportunities linked to land agreements not land banks and offers a genuinely ‘mixed use’ development capability.
Morgan Sindall Investments provides project funding and investment expertise for public sector projects. The unit’s primary function is to act as a facilitator for projects that involve another Morgan Sindall division as a delivery partner.
Morgan Sindall Investments works in partnership with other equity funders and associated professionals to fund, deliver and operate assets focusing in particular on health, education, affordable housing, emergency services, defence and infrastructure.
