Urban regeneration company Muse delivers strong profit growth in first half of year

Reporter:

Alan Davies

Urban regeneration and property development company Muse Developments, which has offices in London, Manchester, Glasgow and Leeds, has contributed to half year results released by parent company Morgan Sindall Group plc, the construction and regeneration group.

The Group has delivered strong profit growth in the first half of this year with operating profit up 37 per cent to £24.9m, a 14 per cent increase on the previous half year.

The Group reports an order book of £3,801m, a five per cent rise from £3,637m.  

During the first six months of this year, Muse moved forward on 23 projects with a total construction value of £385 million.

The company which expects a further £227 million of contract awards over the next 12 months, also maintained a healthy order book and development pipeline, which now stands at £2.4 billion.

Key projects for Muse Developments in Chester this year include:

l Chester: Muse signed up several new tenants, at its One City Place development, a new six-storey, 70,000 sq ft office development at the City Place scheme near the city’s historic railway station. It is the first of seven office buildings to be built as part of Chester’s £100 million Central Business Quarter Tenants that have signed to date include RSM UK, Power Solutions UK, Excello Law, SL Investment Management and Black and Veatch.

Email:

alan.davies@nwn.co.uk

See full story in the Chester Leader

Leave your comment

Share your opinions on

Characters left: 1500

Most Read