Partnerships firm increases operating profit 18%
Lovell Partnerships has increased its profit and turnover for the year to 31 December.
The firm, owned by contracing giant Morgan Sindall, announced its turnover has increased by 3% to £861m while its operating profit is up 18% to £36m.
The results come as Lovell announced today it has secured a deal to build more than 2,000 homes for Cardiff and Vale Housing Partnership.
Lovell delivered more than 5,000 homes in 2024, of which 83% were for affordable tenures for housing associations and councils. It also said it refurbished or retrofitted a further 2,895 properties.
The firm’s order book at as of 31 December was worth £2.2bn, 7% up on the previous year.
Steve Coleby, managing director of Lovell, said: “We’re steadfast in our vision to create the right home for everyone to live their best life, and working collaboratively with our partners, we’re committed to making this happen.”
Morgan Sindall as whole posted a 19% increase in pre-tax profit to a record £172m on turnover up 10% to £4.5bn.
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