Repairs and maintenance provider Morgan Sindall Property Services (MSPS) has contributed to Morgan Sindall Group’s resilient performance for 2021.
The construction and regeneration group financial results, released today (24 February), show that 2021 yielded “a record set of results”. Its revenue rose 6% from 2020, delivering an adjusted operating profit of £131.3 million (FY 2020: £68.5 million) on revenue of £3.2 billion (compared with £3.0 billion in 2020). The group reported a secured order book of £8.6 billion, up 4% on the year-end.
MSPS said its commitment to delivering “a high-quality, customer-focused service led to it being named as preferred bidder for a 10-year contract with Moat, to deliver property repairs and maintenance services.
Last year it became the first property maintenance provider to develop an in-house platform, Goldeni, that consolidates and interprets information from a number of commercially available IoT sensors in real-time, giving social housing landlords and tenants insights to help them ensure their properties are legally compliant and more energy efficient.
It said its social value team had delivered resident and estate days, digital inclusion sessions and biodiversity projects to create more resilient communities, using data insight to identify vulnerable residents and provide them with support. The provider also joined the Employers Domestic Abuse Covenant to support women affected by abuse back into work.
As part of its goal to build a diverse workforce, MSPS also took on 20 new starters to complete a six-month placement as part of Kickstart, the government-funded scheme to support those aged 16 to 24 on Universal Credit to find work. It also allied with the Women’s Trade Network, an initiative to increase the representation of women in trade roles and provide training to encourage greater gender diversity in the industry.
Alan Hayward, managing director of MSPS, said: “2021 has been another challenging year with lots of uncertainty, but we have remained agile in our approach to delivering services to our clients and customers and supporting our colleagues.
“Our half-year results reflect the continued hard work and commitment of the team, with revenue up 20% to £134 million (FY 2020: £112 million) with an order book of £945 million.
“As a priority, we have continued to invest in technology and innovation with the launch of Goldeni, our technology platform. This innovation allows us to take a more proactive approach to repairs, by flagging potential issues in real-time, helping us spot potential indicators of vulnerability such as fuel poverty and support our colleagues in group to achieve our net zero goal.”
The group added that with its strong balance sheet and net cash of £358 million (FY 2020: £333 million), it was “confident of achieving another good year of progress in 2022”.