<p><span>London Square has reported its “strongest year ever” for private sales, with a notable increase in revenue and operating profit as the firm also expands into the affordable housing and Build to Rent sectors.</span></p> <p><span>The results for the year ending March 31 2022 show the London-based residential developer’s operating profit increasing to £30.7 million from 2021’s £17 million. Revenue improved to £278.3 million from last year’s £158.9 million.</span></p> <p><span>It completed 502 homes during the financial year, against last year’s 328. Forward sales more than doubled from 2021’s £195.4 million to £456.2 million. This position, the business said, was driven in particular by its activities in affordable housing and Build to Rent (BTR).</span></p> <p><span>But it also said the “build to sell” market had helped improve its margins, with the full year’s operating margin lifting to 11.1% from last year’s 10.7%. Its private sales rate reached 1.06 units per site per week.</span></p> <p><span>London Square’s land pipeline for the year increased from 2021’s 3,543 units to the current 4,897.</span></p> <p><span>The business, which began in 2010, is expanding into BTR through partnerships under its London Square Living arm. It is contracted to build a 756 home-development at Nine Elms - “the largest single development …