<p><span>Lovell doubled its profit in 2021, delivering its “most profitable year” in the company’s history, the partnership housing specialist said today.</span></p> <p><span>Lovell’s operating profit grew from £</span><span>16 million in 2020 to £33.2 million. Its revenue for the year climbed 21% to £572 million. Within this, mixed tenure revenue improved </span><span>16% to </span><span>£323 million and contracting revenue was up <span>27%</span>to £249 million.</span></p> <p><span>The housebuilder’s operating margin was 5.8%, an improvement on 2020’s 3.4%, as Lovell benefited from its higher mixed-tenure and contracting revenue as well as “continued operational efficiencies”. </span><span></span></p> <p><span>Mixed tenure units (open market and social housing) rose to </span><span>1,653 from 1,216. Their average sales price lifted from </span><span>£229,000 to £249,000.</span></p> <p><span>In contracting (<span>including planned maintenance and refurbishment), </span><span class="ask">the total number of equivalent units built was 1,477 against 978 in 2020.</span></span></p> <p><span>Steve Coleby, </span><span>Lovell’s md, </span><span>said: </span><span>“Throughout the last two years, in the face of extremely challenging trading conditions, we have been relentless in our ambition to work with our partners to build the nation’s much needed homes. While our financial performance has exceeded previous results, it is the strength and unity of our team, that must be acknowledged for the successful delivery of over 3,000 homes. </span><span></span></p> …