<p>Lovell made “an important contribution” to parent company Morgan Sindall’s half year results, with the partnership housebuilder’s revenue up 53% against the comparable period in 2020, it said today (August 4).</p> <p>During the six months ending June 30 2021, Lovell saw “high levels of market demand”. Its revenue was £270 million, also a 14% increase on pre-pandemic levels (HY 2019: £238 million).</p> <p>Its operating profit was £12.1 million compared to HY 2020’s £2.1 million, up 89% on 2019. This was a result of higher mixed tenure revenue and operational improvements, Lovell said. Its operating margin climbed from HY 2020’s 1.2% to 4.5%. The division has a medium term target of a <span>6% </span>operating margin.</p> <p>During the period, Lovell completed <span>815 units consisting of open market sales and social housing, up on HY 2020’s 412. The homes’ average sales price lifted to </span>£232,000 <span>from last year’s </span>£217,000.</p> <p>Lovell said it was making “significant strategic progress” with its partnerships. In the half year, it began or continued joint venture opportunities with <span class="afm"><span>Walsall Housing Group, Trafford Housing Group, Hertfordshire County Council, Abri, Together Housing Group, Flagship Housing Group, Riverside and West Sussex County Council.</span></span></p> <p><span class="afm"><span>Its secured order book at the end …