Housing specialist contributes to record first half

Housing specialist Lovell has highlighted its contribution to its parent company’s record first half of the year.

In the half year ended 30 June, Morgan Sindall Group’s revenue jumped from £2.3 billion to £2.5 billion, while adjusted profit before tax climbed to £116.1 million – up from £95.9 million.

Lovell said it achieved strong margins with operating profits remaining in line with the prior period at £13.2 million, while its secured order book stood at £2.46 billion, with a further £3.06 billion of work at preferred bidder stage.

Lovell is a key player in the £100 million Castleward regeneration project in Derby.

Managing director of Lovell, Steve Coleby, said: “Lovell has continued to perform well in a challenging market, reflecting the resilience of our partnership model, the quality of our people and the strength of our relationships with local authorities and housing associations across the country.

“While the private housing market remains affected by economic uncertainty, demand from our public sector partners remains strong.

“Our focus continues to be on delivering high-quality affordable homes, creating long-term value for communities and supporting our partners in responding to the significant need for housing.”