Contracting giant’s housing partnerships arm increases profit
Morgan Sindall’s partnerships housing business has announced increased profit and turnover.
Lovell Partnerships has this morning reported its revenue increased 5% to £903m in its results for the year to 31 December 2025, while its operating profit rose 10% to £42m.
The firm described its partnerships housing performance as “strong and resilient” despite “slow levels of activity in the private housing market”. It said it has been awarded a number of large schemes to build 6,000 homes over the next two decades.
It pointed to several schemes won in the year, including a 2,500-home, 27-development partnership with Cardiff and Vale of Glamorgan Councils, 500 homes with Barnet Council for phase one of its Grahame Park estate, and an 820-home scheme in Barnstaple in partnership with housing association Bromford Flagship LiveWest.
It also secured preferred developer status to partner with Birmingham City Council on a 3,500-home development in Druids Heath, and by North Yorkshire Council as their development partner for over 800 homes across North Yorkshire. In addition, it was appointed master developer for a 1,000-home development in Barnsley West.
The group’s mixed-use regeneration business Muse reported an operating loss of £5.3m, which it said was expected as it reflected ”expensed investment costs for schemes planned to start on site in 2026”. The division converted eight schemes previously at preferred bidder stage to signed development agreements. Morgan Sindall increased Muse’s medium-term return on capital target from 25% to 30%.
The wider Morgan Sindall construction group this morning announced it has broken through the £5bn-turnover barrier in 2025, with pre-tax profit also up 35% to £232m.
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