Strong performance for Keepmoat Homes as revenues rise 25%

238
Strong performance for Keepmoat Homes as revenues rise 25%

Keepmoat, the Doncaster-headquartered partnership housebuilder, has “performed strongly” as evidenced by its latest trading update.

This follows the £330 million sale of its Regeneration division to ENGIE back in April.

For the year ended 31 March 2017, Keepmoat Homes – the Group’s flagship business – grew its revenue by 25.7% to £423.2 million.

During this period, it sold 2,924 homes – an increase of 21% of the same period last year.

The average selling price, meanwhile, rose from £139,000 to £145,000.

CEO Peter Hindley said: “The business performed in line with expectations in the light of continued strong demand for new housing and despite significant shifts in government policy.

“During the year, we continued to build our presence in new geographies and develop propositions for new sectors which will fuel further growth in the future.”

“In FY17 we continued our regional expansion programme with the new Scotland region already firmly established, and the splitting of our two largest regions, Yorkshire and Midlands, completed.

“In addition, the Group strengthened its capacity in the North West with the acquisition of M.C.I. Developments Limited, in January 2017, which is an established business building high quality homes for registered providers.”

He added: “We are developing relationships with a number of investing institutions who are keen work in partnership with developers such as Keepmoat to build significant portfolios of private rented homes.

“We have also successfully entered into partnership with Elliott to launch a modular construction product under the brand name of ilke Homes.”