Town hall revamp firm’s profits rise

Old Town Hall cinema complex building progress.

THE construction group working on the £36.7 million redevelopment of Oldham’s Old Town Hall has released its latest financial results.

Morgan Sindall’s parent company, Morgan Sindall Group, said its adjusted operating profit was up 34 per cent to £38.8 million for the year ending in December, compared to £29 million for 2014.

It reported revenues of £2,385 million for 2015, a rise of seven per cent on the previous year’s figure of £2,220 million.

The group reported a 20 per cent revenue growth in fit-out projects while construction and infrastructure work rose by 5 per cent.

At Oldham’s Old Town Hall, Morgan Sindall is developing the site into a family entertainment hub with an Odeon cinema and five restaurants. Elsewhere in the region it is working on a number of major projects including schools, hospitals and city centre developments.

The report highlighted the Old Town Hall project, saying it will inject new life into the Grade II-listed building and turn it into a vibrant metropolitan facility.

Other Morgan Sindall projects recently completed include a new £12.5 million research and education facility at Alder Hey Children’s Hospital in Liverpool and the refurbishment of Manchester’s former Cornerhouse cinema and arts centre for use by Manchester Metropolitan University.