Morgan Sindall on course to exceed £5bn revenue again
The listed property firm has recorded income of £2.5bn for the first half of 2026, up 8% on the same period in 2025, which ended with record revenues.
Morgan Sindall Group has announced record half-year results for the six months up to 30 June 2026. The company made a £116m pre-tax profit, up 21% from £95.9m year-on-year.
The company’s net cash position also improved to the tune of £28m from £390m in H1 2025 to £418m this year.
Overbury, the firm’s fit-out arm, continued to be the group’s standout performer, notching up 19% increases in both revenue and operating profit – £996m and £69m respectively.
Morgan Sindall Construction also saw income rise by 18% to £742m, while operating profit for the first half of 2026 soared almost 50% year-on-year to £24.4m.
Chief executive John Morgan said: “Our performance continues to reinforce our track record of delivering strong revenue and growth in profits leading to robust cash generation, enabling continued investment in our partnership businesses while also supporting strong dividend growth.
“Our fit out and construction services businesses delivered excellent results and made a significant contribution to group performance during the period, while our partnerships businesses faced a more challenging macroeconomic environment.”
It was a less lucrative half for Muse, Morgan Sindall’s mixed-use partnerships business, which recorded a £1.1m loss. The developer has a robust order book in excess of £4bn, with nine projects currently on site.
During the period, long-term regeneration agreements were signed in Barrow, Gateshead, and Sunderland through ECF, Muse’s joint venture with Homes England and L&G.
Meanwhile, the firm has continued to progress major regeneration opportunities across the Midlands, including Smithgate in Wolverhampton and the Holbeche Place regeneration in Solihull.
Meanwhile, work on a masterplan for former HS2 land at Arden Cross is also progressing.
Maggie Grogan, Muse’s Midlands managing director, said it was a “period of progress” as those major projects moved into delivery phases.
“The market remains challenging, so it is important that we focus on the right projects, work closely with our partners and make sure each stage of delivery is properly considered.
“Our pipeline across the Midlands gives us a strong platform for the rest of the year, and we look forward to continuing to create places that bring lasting value for communities across the region.”
