Morgan Sindall Group has reported record half-year results, with its partnerships housebuilding arm, Lovell, well-positioned for future growth.
The group has seen its revenue increase by 7% to £2.4billion, while pre-tax profit rose by 37% to £95.9million.
For Lovell, revenues for the first half of the year increased 6% to £405million, up from £381million on the previous year, driven by contracting, which was up 21% to £311million. Operating profit also showed positive momentum, increasing by 13%% to £13.2million.
The trading update said that Lovell’s pipeline continues to grow, while its secured order book at the period end stood at £2,198million, 6% higher than the prior year end.
During the period, the housebuilder secured a significant partnership with Cardiff & Vale of Glamorgan Councils, an LLP with North Yorkshire Council and a joint venture with the London Borough of Barnet to deliver an estate regeneration scheme.
The business’ strategy to increase its number and scale of mixed-tenure sites has been successful, with 68 active sites in the period compared to 63 year-on-year, along with 1,838 homes completed.
Steve Coleby, managing director of Lovell, said: “We continue to demonstrate the resilience and long-term strength of our partnerships model. Our ability to secure and progress major regeneration, joint venture and master developer opportunities is creating a platform for sustainable growth. At the halfway stage of 2025, our secured and preferred bidder order book has grown to £5billion, a testament to the quality of our offer and the trust placed in us by local authorities and housing associations.”
“The scale and ambition of recent wins reflect our deep-rooted relationships, our capacity to deliver at pace and scale, and our confidence in the future of partnership housing. These long-term, multi-site partnerships not only provide stability but also position Lovell as a key delivery partner in helping meet the government’s target of building 1.5 million new homes by the end of this Parliament.”
“As we look ahead, we remain focused on strategic investment, strengthening our capabilities within new build, retrofit and refurbishment and continuing to deliver the affordable and mixed-tenure homes communities across the UK so urgently need.”
