Lovell is well positioned for future growth through its long term partnerships, which has been demonstrated in Morgan Sindall Group’s record half year results released to the London Stock Exchange this morning (29 July 2025).

Today’s results continue to represent Morgan Sindall Group’s strong track record of delivering growth over the long term, with revenue up 7% to £2.4bn, profit before tax up 37% to £95.9m, supported by a PBTA margin of 4% – an expansion of 80 basis points when comparing to this time last year.

For Lovell, revenues for the first half of the year increased 6% to £405m (HY2024: £381m), driven by contracting, which was up 21% to £311m, compared to the previous year. Operating profit also showed positive momentum increasing by 13%% to £13.2m (HY 2024: £11.7m).

Lovell works in partnership with housing associations and local authorities to deliver and refurbish affordable housing as a contractor and developer. Against the backdrop of severe social housing shortages in the UK, the medium and longer-term fundamentals for Partnership Housing remain strong, enabling Lovell to continue to invest selectively. 

A high-quality pipeline continues to grow, through ongoing successful client engagement. The secured order book at the period end was £2,198m, 6% higher than the prior year end (HY 2024: £2,081m), with a further £2,849m at preferred bidder stage.

Notable work winning activity in the period includes securing the strategic partnership agreement with Cardiff & Vale of Glamorgan Councils, a LLP with North Yorkshire Council and a joint venture with London Borough of Barnet to deliver estate regeneration.

The business’ strategy to increase the number, and size of mixed-tenure sites continued apace, with 68 active sites at various stages of construction, compared to 63 in the previous period, along with 1,838 homes completed.

Lovell Managing Director, Steve Coleby, 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 orderbook has grown to £5 billion, 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 reflects 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.”

Lovell is working on a number of key projects across the UK, including:

• East Anglia – Edmundham Developments, a joint venture between housing developer Lovell and Suffolk County Council, commenced work on its first development – 50 new high-quality homes in Newmarket, Suffolk. Of the new homes, 35 units are for open market sale, 10 are affordable rental homes, and five are available as shared ownership. The show homes and marketing suite are expected to open towards the end of the year.
• East Midlands – Work has commenced on a strategically important brownfield site in Balderton, Newark, with funding support from the East Midlands Combined County Authority. The £22 million agreement is a first for Lovell delivering BTR for Placefirst. The development will bring forward 309 new homes to transform the former Flowserve factory site following extensive remediation, with delivery including 138 affordable homes for Platform Housing Group. The remaining balance of homes at Balderton Rise will be for open market sale – launching in the summer. 
• Eastern – A significant phase of the Cocoa Works development, being delivered for Clarion Housing Group, is progressing well and is on track for completion in September 2025. This phase comprises 99 residential plots and represents a contract value of £23 million. The scheme forms part of a broader regeneration effort and will provide much-needed housing.  Lovell has also been confirmed as preferred bidder by North Yorkshire Council for its housing joint venture.
• London – Planning consent has been granted for Maryon Road & Grove Estate, the final phase of Lovell’s One Woolwich regeneration programme being delivered in partnership with the Royal Borough of Greenwich and Paragon Asra Housing Association. The latest phase will deliver 165 new homes (132 of which are affordable), extensive landscaping and amenity. With outdated and uninhabitable buildings now demolished, the site is cleared and ready for construction to begin in early 2026. More than 50% of homes delivered across the masterplan are affordable, addressing urgent local housing needs.
• North East – Building has commenced on the development of 49 affordable homes on land south of Spencerbeck Farm in Ormesby, Redcar & Cleveland. As part of the continued partnership with Thirteen Group, Lovell is providing homes which Thirteen is delivering to customers via Shared Ownership and Rented products. Lovell has acquired 17 acres of former hospital land in Morpeth with planning permission in place for 141 new homes. The development will deliver 25 affordable homes and ensure the preservation of the hospital water tower on the site. First legal completions are expected Dec/Jan.
• North West and Wales – The region has made significant progress with the commencement of six new developments, collectively delivering more than 1000 new homes. These schemes represent a balanced portfolio across open market sales, contracting, and joint ventures. Notable open market sites include Mold and Dock Road on the Wirral. The diverse pipeline reflects continued commitment to delivering high-quality homes across the region.
• Scotland – Scotland secured two major mixed tenure development sites. Dover Heights in Dunfermline, which will deliver 90 new homes including 33 in partnership with Kingdom Housing Association and Shawfair in Midlothian, where 187 homes are planned, 47 of which are in partnership with Midlothian Council. In spring, Lovell also broke ground at a large scale development in Winchburgh, where construction is underway on 69 homes for Wheatley Homes as part of a wider scheme delivering 176 homes. The Winchburgh project is already ahead of schedule, with completions expected before year end.
• South Wales and West – In February 2025, Lovell was selected by Cardiff and Vale of Glamorgan councils as their preferred bidder to deliver the major Cardiff and Vale housing programme. The large-scale project will consist of more than 2,000 new homes, at least 50 per cent of which will be affordable, and be constructed over the next 10 years. Alongside providing thousands of new homes, Lovell will be rapidly expanding its workforce, creating hundreds of new jobs and apprenticeship opportunities for local people. 
• South West – Planning approval and acquisition of site in Barnstaple – 820 homes have been approved which will be delivered in partnership with LiveWest. The development will also see a new primary school, neighbourhood hub, employment space and 27 hectares of green open space.
• Southern – A joint venture partnership with West Sussex County Council continues to go from strength to strength with new homes selling on the first JV site near Brighton. Three JV sites in production in the first half of 2025 and three further sites in planning, boosts the pipeline of homes for this growing region in future years. Alongside this, the region acquired two mixed tenure land opportunities adding a further 300 homes to the pipeline which will be delivered in a joint venture partnership with a Registered Provider. 
• West Midlands – Thanks to the exemplary partnership between Lovell, Telford and Wrekin Council, Nuplace and L&G Affordable Homes, Station Quarter in the West Midlands has made significant progress. Built in line with the Future Homes Standard, the residential aspect will deliver 105 high-quality new homes with an essential mix of tenures and property types. The project utilised modern technologies to future-proof the homes by increasing sustainable solutions and decreasing heating costs for residents. Station Quarter supports the crucial wider regeneration in Telford to enhance connectivity and create a vibrant neighbourhood that offers not just housing but a full community.
• Lovell Renew – Refurbishment and retrofit have been a significant focus of the business’s work in the first half of 2025. Lovell has invested in dedicated delivery and compliance teams, advanced research and strengthened partnerships with local supply chains to deliver future-proofed homes. Highlights from the past six months include:
  • Installing 609 kitchens across Birmingham, Coventry, Hereford and Worcester as part of our 10-year partnership with Citizen Housing in the West Midlands.
  • Completing decarbonisation works on 261 homes in Northamptonshire and Nottingham for Amplius Group in the East Midlands, working in partnership Morgan Sindall Property Services. Building on this, we’ve secured a further three years’ funding to deliver work on a further 818 homes, starting in June 2025.
  • Refurbishing around 250 homes for Together Housing in Calderdale, West Yorkshire over the past year, including kitchen, bathroom, rewiring and roofing works,

To view the Morgan Sindall Group plc half year results video, see below.

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