Lovell boosts Morgan Sindall Group’s results

Lovell boosts Morgan Sindall Group’s results

Partnership homes developer Lovell has contributed to preliminary results for the year ended 31 December 2017, released by Morgan Sindall Group plc, the construction and regeneration group.

The Group delivered a strong performance for the year with adjusted operating profit up 41 per cent to £68.6 million on revenues of £2,793 million – a 9 per cent rise on the previous year.

Nationally, Lovell delivered 1,757 new-build homes in 2017 including homes for open market sale and affordable homes. Through long-term partnerships with housing associations and local authorities, the company undertakes new-build housing developments for sale and for rent, home refurbishment schemes and large-scale housing renewal programmes.

Lovell national partnerships director Peter Quinn said: “The outlook for 2018 is highly encouraging as we continue to build urgently needed homes across England, Scotland and Wales. Lovell’s commitment to long-term partnership working is combined with the ability to bring forward land for development and create high-quality new homes across a range of tenures, from affordable housing to properties for sale on the open market, as well as provide housing refurbishment and planned maintenance services.”

Lovell’s combined national forward order book and regeneration pipeline now stands at £1.4 billion.

 

Image: New homes completed by Lovell at The Mill, Canton, Cardiff, one of Wales’ largest urban regeneration programmes.

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