Lovell Partnerships revenue and profit up

Lovell Partnerships’ revenue and operating profit grew during its half year against a “slow pace” of recovery in the housing market, according to parent Morgan Sindall.

Morgan Sindall, the UK construction and regeneration group, noted the division’s “strong” performance, which, during the six months ending June 30 2025, yielded an operating profit rise of 13% on HY 2024 to £13.2 million. Revenue improved 6% to £405 million, while operating margin moved up 20 basis points to 3.3%.

Lovell, which works as a contractor and developer in partnership with housing associations and local authorities, said it continued to see “robust” demand levels, with clients awarding work either through frameworks or direct negotiation. The total number of equivalent units built on the contracting side rose 16% to 1,838.

But mixed tenure completions were down; those for the open market fell 10% to 327, with the total at 625 units compared to the previous year’s 784. The homes’ average sales price rose from £222,000 to £254,000.

The division’s secured order book at the end of the half year was 6% higher than HY 2024 at £2,198 million.

Lovell highlighted “notable” work during the period, including securing a …