Construction company reports highest turnover in almost 100-year history

Leeds-based Morris & Spottiswood has reported the highest turnover in its almost 100-year history, rising 25% to £128m in 2023 from £103m the year before.

Part of the Morris & Spottiswood Group, which specialises in end to end construction services including design, fit-out, housing and mechanical & electrical services (M&E), its founding business, Morris & Spottiswood Ltd, also achieved an operating profit of £2.5m for the year ending 31 December 2023, up 9% from 2022.

Alongside the increase of turnover and profit, the business also highlighted a strong balance sheet, a high percentage of secured workload, and good pipeline visibility for the year ahead.

It says growth was driven by further expansion of the group sector strategy, a strong performance in the public sector, increased business across England and the success of Livingston Building Services Ltd, the group’s mechanical and electrical business, which was acquired in February 2022.

Jon Dunwell, chief executive officer at Morris & Spottiswood, said: “Despite a challenging external landscape, we have reported our highest ever turnover for the year to December 2023.

“Over the last 12 months, we have continued to invest in business growth and client relationships, which has served us very well.

“Our sector strategy, to both grow and expand across a diverse range of sectors, has proven highly effective and has returned positive results.

“In addition, we’ve been appointed to a number of public sector frameworks, which have generated a healthy pipeline of opportunities supporting future profitability and stability.

“The market continues to fluctuate, but we are in a strong position to navigate changes and we’re looking forward to continuing our growth performance in our 100th year.”

Founded in Glasgow in 1925, the Morris & Spottiswood Group has a portfolio of eight businesses, operating across the UK, with offices in Leeds, Warrington, Carlisle, Glasgow, Livingston and London.

Services for clients include construction, fit-out, retro-fit, refurbishment services, and M&E services. The business also offers in-house architectural services; maintenance, space development and furnishing and a range of carbon reduction solutions.