<p><span>Lovell saw its operating profit drop 12% to £16.1 million in 2020 while its secured order book grew “significantly” to £1.3 billion, the partnership housing specialist said today (February 25 2021).</span><span></span></p> <p><span>Covid-related site delays caused the operating profit to decline, but parent company Morgan Sindall Group said the division had made “an important contribution” to the year end results. During the year, Lovell built around 2,200 homes in a mix of open market, private rented sector housing and affordable homes as well as large refurbishment and housing-led regeneration programmes.</span><br/></p><p></p> <p><span>Lovell said its improved, “high quality” order book reflected its strategic progress, supported by good market opportunities. It added that it expected to grow its margin and profit through continuing operational improvements and “the benefit of higher revenue”. </span></p> <p><span>Lovell’s current projects include Lockside, a 16-acre brownfield site in Walsall, West Midlands on which it will deliver 252 multi-tenure dwellings in a joint venture with Anthem Homes; </span><span>Amblers Orchard, Westerton Walk in Leeds – the first of four Extra Care schemes due to complete in July by Lovell Later Living in partnership with Home Group and Leeds City Council; and the Mill in Cardiff, where the final remaining open market homes …