The group, which is currently celebrating its centenary year, saw turnover increase by 35% to £172.5m from £128m last time as pre-tax profits rose to £4.7m from £2.5m.

A major driver was the growth of M&E business Livingston Building Services, which saw turnover increase from £54m to £70.7m as operating profit nearly doubled to almost £6m thanks to increased demand in the financial sector and critical infrastructure projects. 

During the financial year Morris & Spottiswood acquired part of the collapsed ISG fit-out business saving more than 100 jobs.

 Jon Dunwell, CEO of the Morris & Spottiswood Group, said: “These results reflect not only growth, but sustainable and profitable growth. We’ve focused on building capacity across multiple markets, with strategic diversification into new sectors and geographical areas, while consolidating our presence in the financial, public and food retail sectors.

“This has enabled us to deliver strong performances across key accounting metrics, while maintaining a prudent financial structure that positions us well for continued expansion.

“The additions we made to the team at the end of last year have further strengthened our capabilities which, combined with our increased liquidity, stand us in good stead for achieving our strategic growth plans throughout 2025.”