MORRIS & Spottiswood has reported the company’s highest turnover in its almost 100-year history, rising 25% to £128 million in 2023.
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 £2.5 million for the year ending 31 December 2023 – up 9% from 2022.
Growth was attributed to a number of factors, including 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 Limited, the group’s M&E business, which was acquired in February 2022.
Livingston Building Services increased turnover by 19% to £54 million, and operating profit of £3.2 million. The turnover growth was driven by increased demand for large infrastructure projects and critical engineering, the introduction of new service offerings including data and fibre and High Voltage (HV) services, and the recent opening of its office in London.
Jon Dunwell, CEO 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 twelve 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.
“We have also continued to develop our portfolio of end-to-end services through our group of companies with a focus on providing flexible, efficient and bespoke solutions for our clients. Our prudent fiscal management and long-term strategy continues to provide an exceptionally strong platform for sustainable growth. Agile and ambitious, we have recently been able to support our clients and industry through turbulent changes in the major supply chain which will further accelerate our growth in 2025. 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.”
