National partnership housing specialist Lovell has reported a record set of results for 2025, contributing to parent company Morgan Sindall Group plc’s full-year results announcement to the London Stock Exchange.
The Group delivered a strong performance in 2025, with Group revenue increasing by 10% to over £5 billion, while adjusted Operating Profit increased by 39% to £232.6 million.
Lovell delivers multi-tenure communities and provides innovative residential construction, regeneration, and retrofit solutions across Wales, England and Scotland.
Against the backdrop of continued housing supply pressures across the UK and a constrained sales market, its partnership-led model is helping local authorities and housing associations accelerate the delivery of much-needed affordable and mixed tenure homes, it said.
Revenue increased by 5% to £903 million (2024: £861 million), while operating profit rose 16% to £42 million (2024: £36.1 million).
The company ended the year with a secured order book of £2.33 billion, an increase of 7% from 2024, with 60% of work extending into 2026 and beyond, providing clear visibility over future delivery.
Managing Director, Steve Coleby, said:
“We’ve delivered record results in a year where the housing market has remained under pressure, which reflects the strength of our long-term partnerships and the exceptional efforts from our employees.
“What’s stood out this year is the consistency of demand from our public sector partners. That stability, combined with the scale of our long-term regeneration projects, has enabled us to grow and maintain a strong forward pipeline.
“With housing need remaining acute across the UK, our long-term partnerships are enabling us to continue delivering high-quality, affordable homes at scale.”
Performance during the year was driven by continued demand across construction and planned maintenance, which helped offset slower activity in mixed tenure developments as open market sales remained subdued.
Margins improved across both areas, supported by strong demand for contracting and an increase in the size and value of mixed tenure schemes progressing through delivery.
Lovell continued to invest in long-term partnerships, with demand from local authorities and housing associations remaining resilient, despite softer open market activity.
Last year, the firm delivered more than 5,000 new homes, with 85% of these homes affordable – a benchmark that matched previous years’ performance.
Lovell said it expects continued strength in its forward pipeline as it supports its housing association and local authority partners on their forward programmes.
