Harrison expects doubling in profits on the back of high-profile projects

Harrison
From left: David Clancy, Martyn Harrison and Ann Scott

Yorkshire property developer S Harrison expects to see annual profits double this year as it completes a number of high-profile schemes across the UK.

The York-headquartered business says projects in the hotel, residential and student accommodation sectors will all be major contributors to a pre-tax profit that is set to exceed £10m in 2018 compared with £4.6m in 2017.  Turnover, just under £30m in 2017, is expected to top £40m.

Ann Scott, managing director at S Harrison, said: “Development is a long-term process.  What pleases us most is looking at three-year patterns and seeing the consistent profit growth of the business over time, despite the challenges faced by the UK economy over the past decade.”

Student schemes in Leeds and York have come on stream this year and by December S Harrison will have handed over hotels for Hotel du Vin in Stratford-upon-Avon and Travelodge in Lincoln.

Newbuild and refurbishment residential and retail developments in York have also contributed to the financial success in a year which has seen S Harrison achieve planning approval on a number of major schemes including the redevelopment of a high-profile Grade II listed building in the heart of Edinburgh.

The award-winning company’s pipeline of work already looks healthy with major schemes in Leeds, Edinburgh, Whitby and Manchester amongst an impressive mixed portfolio already on site or entering the planning process.

Ann added: “Vital to us is to build on our long-established reputation for delivering beyond expectations. We are constantly seeking additional high calibre people at all levels who can complement the skills we have and who share our commitment to quality.”

The company expects to make an announcement later this month about a new senior hire to further strengthen the senior team.