Lovell boosts turnover 21%

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Morgan Sindall’s partnerships housing arm  increases margin target as it focuses on mixed-tenure development expansion

Morgan Sindall’s partnerships housing business has boosted its annual turnover by 21% and doubled its operating profit.

The construction giant today reported its Lovell business increased revenue to £572m from £474m for the 2021 calendar year. Its operating profit jumped from £16m to £33.2m over the same period.

The business increased its contracting revenue 27% to £249m while its mixed-tenure turnover rose 16% to £323m.

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