Building on 2006’s strong performance, Morris & Spottiswood, a leading provider of Fit out, Housing and Maintenance services in Scotland and the North of England, has delivered its financial results for the year ended 31 December 2007.

The privately-owned company which employs around 620 people at offices based in Glasgow, Edinburgh and Warrington, reported revenue of £125.3m, up from £124.8m in 2006. Pre tax profits rose in the same period by 16% from £2.9m to £3.4m.

"Our Fit out, Housing and Maintenance businesses have all performed well during the year despite a difficult economic climate and we remain focussed on achieving market leadership in these key sectors,"said Chris Saxton, Morris & Spottiswood’s chief executive.

"We have been helped by a very committed workforce and a strong portfolio of blue chip and public sector clients who we have long-term working relationships with. This includes the affordable housing sector where we are doing extensive refurbishment and improvement works for housing associations and local authorities."

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He added: "Over the next 12 months we expect to see a further rise in maintenance and refurbishment projects as more organisations choose to adapt and maintain their existing premises and facilities and put their relocation plans on hold until the market settles."

Morris & Spottiswood’s fit out business has secured a number of key contract wins during the year with leading national high street retailers, banks and supermarket chains.

In Housing, current projects include a £2.85m scheme for Link Housing Association to build 32 new homes in Falkirk, as well as new refurbishment contracts with City of Edinburgh Council and Prospect Housing Association.

These new works, alongside existing framework contracts with Glasgow Housing Association, North Lanarkshire and North Ayrshire Councils make Morris & Spottiswood’s portfolio of affordable refurbishment and maintenance housing contracts one of the largest in Scotland.

Responsive repairs maintenance contracts worth several million pounds have also been secured this year. These include a scheme for Margaret Blackwood Housing Association in Scotland to service approximately 850 MBHA homes throughout the West, Central and Argyll and Highland regions over the next two years.

Other repairs maintenance contract wins include works those with Tesco and Co-op stores across the UK, as well as contracts with Anglian Water Group and Strathclyde Police.

(GK/NS)