Matt Bray joins Morgan Sindall-owned business after six years at firm
The man who helped set up Interserve’s Paragon fit-out business has joined rival Morgan Lovell.
Documents filed at Companies House show that he resigned as a director of Paragon’s parent, Interserve Construction, just before Easter.
Now Bray has been named as the new head of contracts at one of Morgan Sindall’s fit-out businesses.
Morgan Lovell has recently completed work for the Royal Navy on a digital centre of excellence at Portsmouth while it has finished fitting out a new office for National Lottery operator Camelot in London.
Bray co-founded Paragon, which was bought by Interserve in 2013, with Stephen Sproat in 2005.
Sproat, who was most recently commercial director, resigned as a director of the business last year.
In its most recent results, Morgan Sindall’s fit-out business, which also includes Overbury, posted revenue of £407m with operating profit down 13% to £16.4m. Operating margins were 4% in the first half, down from 4.4% last time.
Chief executive John Morgan said he still expected the business to hit the higher end of its targeted £30m-£35m annual profit range.
He added: “There’s quite a lot of work about, it’s just not as booming as it once was.”
Nearly two-thirds of the the firm’s fit-out work is in London.