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Morris & Spottiswood optimistic after 'significant gains' in housing

Warrington based fit-out and maintenance firm Morris & Spottiswood delivered a ‘robust performance’ in the year ended 31 December 2008 due to ‘significant gains’ in its housing business.

Pre-tax profit remained flat at £3 million for the year compared to £3.4 million in 2007. Turnover dipped slightly to £122.5 million from £125.3 million last time.

Figures were bolstered by an increase in its affordable homes porfolio with refurbishment contracts for Glasgow Housing Association, River Clyde Homes, Prospect Housing and City of Edinburgh Council.

The firm also saw increased demand for new build projects in Falkirk for Link Group.

Morris & Spottiswood chief executive Chris Saxton said: “Retail, commercial and banking have historically been major strongholds for Morris & Spottiswood and they have been hardest hit by the economic uncertainty which continues to prevail.

“Our housing division performed exceptionally well last year and our maintenance and fit-out divisions were successful in securing several million pounds worth of new business.”