MORGANSTONE (Llanelli)

Origins

Having worked for housing and construction PLCs at senior management level for many years, the managing director Ian Morgan felt it was time to go it alone and that the industry was in need of a niche for a main contractor that understood and operated as a client would. This would provide a flexible and personal approach and thus avoiding an adversarial and contractual approach. By implementing this flexibility for change and quick decision-making along with the discipline that is exercised by that of a Plc would provide a much-improved service to the client

Our main challenges when starting the business

The company was established in 2008 which, as history now shows, was right at the start of the recession and therefore bank funding, assistance and support was not easily forthcoming. Some of the other challenges that were faced and overcome in the first three years by the company included creating a history of trading before that history is created; finding and appointing appropriately experienced and trained personnel; uncertainty of government funding for the clients that they work with in the public sector; and controlling growth to be both achievable and sustainable for the longer term

Success Factor

To continue growth, it is important for Morganstone to maintain its established client base and to source and secure new contracts. In order to achieve this, it is diversifying into new areas such as education, healthcare, hotels, commercial and retail; and expanding across a wider geographical area covering the whole of south, mid and west Wales. It must also find and retain the right employees and inorder to grow year on year, finding and retaining skilled and reliable employees who regularly deliver the highest standard of work is a main priority. In fact, its personnel have long and established track records in delivering high quality services in the sectors worked in by Morganstone, having worked for national construction and regeneration companies for many years. Finally, investing in both the company and the community. For example, there is a tight control on finances with any profits made being reinvested back into the development of the company and the success and subsequent growth of the company has been built upon ensuring that each and every development is delivered on-time, within budget and to the highest possible standards. Another important aspect of the working week is to deliver tangible community benefits and targeted recruitment and training opportunities within the communities its works. For example, Morganstone expanded its drive to attract young people into the industry in 2017 with the introduction of its Construction and Careers campaign which aims to attract the brightest and best into the industry in order for growth to thrive.

The Future

The long-term growth plan at Morganstone is to continue its year on year increase of turnover in a sustainable manner whilst maintaining and improving the margins of the areas in which it operates. This will only be achieved by the continued effort of its dedicated staff which will need to be strengthened and increased to meet the demands that its growth projection requires. The majority of the company’s workload is currently centred around the residential sector however over the next five years it is going to be focusing on increasing non-residential workload in sectors such as care, extra care, healthcare, education, hotel accommodation, commercial and retail. It is already making tangible strides as proven by the recent completion of the Pembrokeshire College project.