Turnover for the last financial year (ending December 2021) increased to £37 million, with an operating profit of £2.4m, a healthy increase on the previous year. As well as growth in turnover and profitability, the accounts highlight the robust financial health of the business, with a solid balance sheet, a low cost of debt and a high level of secured workload for the year ahead.

After becoming part of the wider Morris & Spottiswood Group earlier this year, LBS has tapped into its parent company’s framework of clients to successfully win new, larger projects.

The business has also invested in expanding its core capabilities to provide a suite of comprehensive in-house services, from design through to installations, commissioning and aftercare, to both public and private sector clients. These include NHS Greater Glasgow and Clyde, Britvic, City of Edinburgh Council, and Fife Council.

LBS continues to develop its capabilities with the recent appointments of Jon Monk, High Voltage (HV) Director, and Keith Robertson, Fibre and Data Manager. These new appointments will allow LBS to increase delivery of services in critical environments and fibre optic and data installations for various projects, including supervisory control and data acquisition (SCADA) systems for onshore and offshore wind farms.

In 2023, LBS will further expand its services supporting the energy transition and energy efficiency across sectors, such as the installation of electric vehicle charging infrastructure; and an energy efficiency consultancy and installation business.

Lindsay Anderson, managing director at LBS, said: “The last 12 months have seen incredible growth across our business as we reap the benefits of joining the wider Morris & Spottiswood Group. We are an agile team for a business of our size and our ability to quickly mobilise and collaborate effectively with clients is one of our key offerings.

“As we continue to grow and diversify our services, our focus is on providing flexible, efficient and bespoke solutions for our clients’ building services requirements.”