National fit out and refurbishment specialist Overbury which has offices in London, Birmingham, Bracknell, Glasgow, Leeds and Manchester, has contributed to record preliminary results for the year ended 31 December 2018 released this week (21st February 2019), by parent company Morgan Sindall Group plc, the construction and regeneration group.
Morgan Sindall Group plc has delivered record profit for the full year to 31 December 2018, with adjusted profit before tax up 23% to £81.6 million (FY 2017: £66.1 million) on revenue of £2,972 million (FY 2017: £2,793 million), a 6% increase on the previous year. The Group reported a committed order book of £3.6 billion and a regeneration and development pipeline of £3.1 billion. Adjusted earnings per share was up 25% for the year to 151.8p (FY 2017: 121.1p) and total dividend per share increased by 18% to 53.0p (HY 2017: 45.0p). The Group demonstrated continued strength of the balance sheet with year-end net cash of £207 million and an average daily net cash of £99 million. They are in a strong position to deliver on expectations in 2019.
“We are pleased to have contributed to a strong set of results for the Group,” said Chris Booth, managing director of Overbury. “Our focus on exceptional service delivery, operational efficiencies and nurturing our people has made 2018 a success for Overbury. We are proud to have helped so many clients across the country with their fit out projects and look forward to delivering more exceptional spaces in 2019.”
Key projects for Overbury in 2018 include:
- Overbury has been appointed to the Department of Work & Pensions (DWP) Estates Contractor Framework for London & South East, Scotland and the North East. It is one of four contractors working with the DWP to upgrade the estate of the UK’s largest government department.
- Completion of a 10,500 sq ft office fit out for global engineering and design consultancy Arup at The Plaza, 100 Old Hall Street in Liverpool.
- Works started on a circa 155,000 sq ft fit out of office space and specialist broadcast areas for BBC Cymru Wales new headquarters in Central Square, Cardiff. The £100 million new broadcast centre is one of the largest office developments in Wales.
- Works started on a 100,000 sq ft refurbishment and Cat B fit out of office space for the Competition and Markets Authority at 25 Cabot Square in Canary Wharf.
- For Royal Dutch Shell in the South Bank, Overbury is delivering two major fit out schemes in adjacent buildings totalling 470,000 sq ft. These include a 27-storey fit out and upgrading of around 250,000 sq ft of office space at the Shell Centre tower, and a 220,000 sq ft fit of a new multi-storey office space on York Road. The two buildings are connected by link bridges.
- Overbury secured six projects from The Mayor’s Office for Policing and Crime (MOPAC) Framework, delivering a four-year programme of fit out and refurbishment works across a number of London’s police stations.
- Completion of a three-floor, 88,000 sq ft Cat B fit out of office space for ITV plc at 2 Waterhouse Square in Holborn.
- Work started on a circa 11,000 sq ft fit out of the new Members’ Brasserie at The All England Lawn Tennis Club (AELTC) in Wimbledon. The scheme will be completed in time for The Championships in 2019.
- Completion of phase one of a multi-phase project to fit out circa 150,000 sq ft of office space for energy company RWE Generation UK at their Swindon headquarters.
- A new 28,000 sq ft Cat B fit out for repeat client, the University of Bristol, at 1 Cathedral Square in Bristol to house services from within the university estate including Research and Enterprise Development and the Development and Alumni Relations Office.