CONSTRUCTION firm Morgan Sindall – which is behind a raft of high-profile projects in Bournemouth and Poole – has hailed “positive momentum” despite announcing a loss.

The company is involved in several major schemes with the public sector locally and has been appointed to deliver five projects for the Arts University Bournemouth (AUB).

It announced an operating loss for the 2015 of £10.3million, against a £26.5m profit the previous year. But adjusted operating profit was up 34 per cent to £38.8m, based on revenues up seven per cent to £2,385m.

The company, whose local office is in Cabot Lane, Poole, said the losses were down to two contracts taken over on its acquisition of Amec in 2007. These related to the Faslane nuclear submarine base for the Ministry of Defence.

Group chief executive John Morgan said: “We are pleased with the year end result, which is evidence of the strategic and operational progress made across the group during the year and this, together with a positive outlook going into 2016, has enabled us to raise the final dividend.”

He added: “Looking ahead to 2016, the positive momentum across the group is expected to continue.”

Morgan Sindall said revenue was up 20 per cent in fit out and five per cent in construction and infrastructure. Its affordable housing activities saw a 29 per cent revenue increase. It raised its dividend to shareholders from 27p to 29p per share.

The Poole office is currently working on a £29m contract to build the first phase of a retirement village on site of the former HMS Royal Arthur naval training college in Corsham, Wiltshire.

Last year, it finished a £9m project to deliver a five-storey block of 64 flats plus restaurant at the Citrus building at Bournemouth’s Leyton Mount.

It recently finished a £2.8m at the AUB’s West Block halls of residence and is currently carrying out a £2.9m conversion at the East Block, with both blocks to be used for teaching.

It has built a £1.9m drawing studio and a £3.8m four-storey extension to the AUB’s photograph department and a £2.3m series of new buildings for the student services, student union and facilities management departments.

It is carrying out a £3m programming of remodelling and extensions at Manor Park First School in Dorchester.

Morgan Sindall’s special works team recently finished a £1.3m scheme with the Borough of Poole to build new beach huts and refurbish existing ones at Branksome.