Housing specialist reports strong order book

Partnership housing specialist Lovell has reported a strong order book despite economic challenges.

With half year operating profits totalling £10.1 million, Lovell’s results have bolstered the overall performance of parent company Morgan Sindall Group plc.

The group delivered a record performance in the first half of 2023, with revenue increasing by 14% and pre-tax profits rising by 10%.

Despite continued economic turbulence, Lovell delivered a resilient performance, with its order book up 27% on the same period last year.

Among the projects in Derby in which Lovell is a partner is the £100 million Castleward regeneration scheme, working alongside Compendium Living to deliver hundreds of new homes.

Regional managing director Beth Bundonis said: “This is a time of real opportunity for Lovell.

“More than ever, we are supporting our partners through our flexibility, innovation and strength and we must remain focused on the delivery of homes that will shape future communities.

“The announcement from Homes England earlier in the summer, confirming its support of both replacement and regeneration schemes, is welcome news.

“Not only will this unlock a large number of regeneration schemes, it also paves the way for further investment in construction jobs and wider social value projects.

“As we continue to navigate challenging trading conditions, it is testament to our loyal and talented teams, that we continue to deliver quality homes, working collaboratively with our partners.”