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Strong half year results from Morgan Sindall Group, highlight another positive start to the year for Muse

Nationwide placemaker, Muse, has once again contributed positively to parent company, Morgan Sindall Group plc’s strong half-year results to the London Stock Exchange this morning (Thursday 3 August).

Nationwide placemaker, Muse, has once again contributed positively to parent company, Morgan Sindall Group plc’s strong half-year results to the London Stock Exchange this morning (Thursday 3 August)

The Group delivered a record performance in the first half of 2023, driven mainly by a strong performance from the Fit Out division. Group revenue increased by 14% up to £1,935m while adjusted profit before tax increased 10% to £59.8m. In addition, the Group’s balance sheet remains strong, with net cash at the period end of £263m.

Muse’s order book and forward pipeline continues to be healthy and diverse, with 19 projects on site totalling £1.34bn. Its forward pipeline stands at £1.7bn.

Throughout the first half of 2023, Muse continued to deliver place-changing, area-wide regeneration in partnerships, with the emphasis on sustainability, community and quality.

Key highlights include plans progressing on the £3.2bn, 346-acre Arden Cross regeneration, that will see a new city district created around the Midlands HS2 Interchange station, as well as entering into an agreement with City of Wolverhampton Council to look at development opportunities in the city.

As a business, Muse promoted Maggie Grogan to Managing Director – Midlands, appointed its first Head of Social Value and Sustainability, Syreeta Bayne, and has been accredited as a Great Place to Work for the second year in a row, and has been named as one of the best for both wellbeing and for women.

Managing Director for the Midlands, Maggie Grogan, said: “We’re focused on creating sustainable places that really matter to people, which are both inclusive and leave a positive legacy in communities for generations to come.

“We’ve had a strong start to the year as we continue to deliver people-focused regeneration right across the country. We have continued, alongside our joint venture partners, to expand our reach, being named as preferred developer on two new major projects and working with new local authority partners, all of which is a clear endorsement of our track record and the tenacity and passion of our team.

“Delivering what communities truly need can only be achieved in partnership with both the public and private sector and we’ve been doing that for nearly 40 years. It’s all about building a brighter future, together, and by creating a platform for us to make places everyone can be proud of.”

For more information about Muse click here.

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