Water and Effluent Treatment Magazine
Issue link: https://fhpublishing.uberflip.com/i/844437
26 LEADERS 2017 Morgan Sindall Corporation Street rugby CV21 2dW Tel: 01788 534500 www.morgansindall.com the LeADeRS 2017 Nick Fletcher, Morgan Sindall's managing director for Infrastructure, says infrastructure investment has been boosted by the government's support for the industrial strategy which identifies infrastructure as a key facilitator for the economy's growth. And he says the infrastructure business is "well positioned to capitalise on this", and has already seen several new wins and framework extensions that have enabled it to establish and develop relationships with new customers as well as strengthen existing ones. In the water sector, Morgan Sindall is continuing its network upgrade and enhancement works as part of two AMP6 frameworks for Yorkshire Water and Dwr Cymru Welsh Water. Projects include clean water and wastewater Infrastructure boost for Morgan Sindall projects ranging in value from around £100,000 to £35M. In December, Morgan Sindall, in joint venture, was awarded a place on London Underground's 'Future Stations' Civils and Tunnelling Works framework. In August 2015, Morgan Sindall, in joint venture, was appointed to the seven-year project to deliver the western section of the Thames Tideway Tunnel, or 'super- sewer' – valued at £300M to £500M to the joint venture. This scheme builds on the successful delivery of the four-mile long Lee Tunnel, completed in early 2016, which Morgan Sindall designed and built in joint venture for Thames Water. The east London project was worth around £300M to Morgan Sindall and is the capital's deepest tunnel. THE nUMBErS 2013 2014 2015 % CHangE Sales £M 2,094.9 2,219.8 2,384.7 7 Gross profit £M 156.6 181.0 166.3 -8 Operating profit £M 16.2 26.5 -10.3 n/a Pre-tax profit £M 13.9 22.8 -14.8 n/a Staff 5,752 5,750 5,828 1 Net assets £M 257.5 268.5 249.7 -7 THE raTioS 2013 2014 2015 % CHangE 5yr aVE. Return on capital % 5.4 8.5 -5.9 -170 7.7 Gross margin % 7.5 8.2 7.0 -14 8.3 Operating margin % 0.8 1.2 -0.4 n/a 1.0 Net margin % 0.7 1.0 -0.6 n/a 0.9 Sales/employee £K 364.2 386.1 409.2 6 362.1 MorriSon UTiliTy SErViCES abel Smith House gunnels Wood road Stevenage Hertfordshire Sg1 2ST Tel: 01438 743 744 www.morrisonus.com 2016 proved an eventful year for Morrison Utility Services. Firstly, the group was acquired by First Reserve, a leading global private equity and infrastructure investment firm, from Bregal Capital and Motion Equity Partners; and secondly, Jim Arnold became chief executive with Charles Morrison taking on the role of chairman. Morrison US says it produced a good performance during its 2015/16 financial year and, in a competitive market, is maintaining its position as the leading utility services provider. The company says that whilst markets remain competitive, the outlook for the group "is exciting". Its long-term order book is at record levels and provides a strong platform to further develop the business and deliver continued growth. It is continuing to grow the business by securing long-term contracts with companies such as Thames Water and National Grid. During the year, the company also successfully mobilised An eventl year for Morrison US two large joint venture contracts for Thames Water and Scottish Water. Morrison US also expended its contract with Dwr Cymru Welsh Water for a further two years in wastewater network maintenance and water network repairs. THE nUMBErS 13/14 14/15 15/16 % CHangE Sales £M 518.4 585.3 614.0 5 Gross profit £M 30.7 33.0 35.2 7 Operating profit £M 19.2 20.0 23.9 20 Pre-tax profit £M 19.3 20.0 23.8 19 Staff 3,618 3,666 3,882 6 Net assets £M 116.8 131.7 150.8 15 THE raTioS 13/14 14/15 15/16 % CHangE 5yr aVE. Return on capital % 16.5 15.1 15.8 4 18.1 Gross margin % 5.9 5.6 5.7 2 5.8 Operating margin % 3.7 3.4 3.9 14 3.7 Net margin % 3.7 3.4 3.9 14 3.7 Sales/employee £K 143.3 159.7 158.2 -1 156.6