Morgan Sindall goes from strength to strength with 35% profit growth
The group’s order book has also swelled to £19.1bn over the last 12 months, while revenue rose 10% to more than £5bn.
Morgan Sindall Group, which comprises construction, infrastructure, housing, fit-out, and development divisions, has today published its results for the year ended 31 December 2025 on the London Stock Exchange.
The stellar set of results, which include a 35% year-on-year pre-tax profit increase from £171.9m to £231.8m, saw fit-out arm Overbury come out as the group’s star performer.
The contractor grew revenue and operating profit by 37% and 41% respectively and increased its list of big-name clients, which includes Citi, Aviva, and BNY Mellon, for whom Overbury is delivering a 200,000 sq ft office in Manchester.
Medium-term, the group is aiming for Overbury to increase profits to the £80-£100m range but is expecting 2026 earnings to be lower than the £37m recorded this year.
Muse, Morgan Sindall’s development partnerships division, increased its order book by 13% to £4.6bn after project wins in Northampton, Hull, Eccles, and Stevenage during 2025. However, both revenue and profit were down on the previous year.
Muse is off to a good start in 2026 having been selected as the preferred bidder for a major housing-led regeneration scheme in Barrow as part of the ECF joint venture with Homes England and L&G.
Morgan Sindall Construction also improved year-on-year. Revenue grew by 11% to £1.1bn while operating profit rose by 20% to £37m.
Housing arm Lovell recorded revenues of £903m, up from £861m in 2024. Profit jumped 16% year-on-year to £42m. The group’s infrastructure division saw profits and revenue fall slightly but its margin improved by 30bps.
Chief executive John Morgan said: “Looking ahead, and despite some of the current headwinds in the housing market, we remain positive for the year ahead and are on track to deliver an outcome for 2026 which is in line with revised expectations as set out in our Trading Update released on 12 February 2026.”
Muse having a £4.6 billion pipeline of unviable schemes with increasing demands on the public purse is hardly something to brag about…better hope Overbury keeps on printing money .
By Mind the Gap.