Major deals completed and a raft of successful delivery milestones have contributed to a rise in profits and turnover at Yorkshire-headquartered Caddick Group.
The Group, which includes businesses such as Moda Living, Caddick Developments and Caddick Construction, has seen a considerable rise in turnover (28%) and profits (41.8%) as compared to the prior financial year after a record year of delivery.
Group turnover for the year ending August 2022 stood at £492m, with pre-tax profits up to £58m. The continued strong performance reflects an increasing geographical reach across the UK and investment in a healthy pipeline of future opportunities.
The Group continues to increase its long-term development pipeline and remains particularly focused on a twin property strategy of Living and Industrial/Logistics, driven forward by Moda Living, which delivers and operates institutional grade rental homes across the build-to-rent, single family rental, student accommodation and co-living markets; Caddick Developments, which is one of the largest privately owned multi sector property developers delivering high quality commercial spaces across the UK; and Caddick Construction, which boasts more than 40 years’ experience delivering new build, refurbishment and civil construction projects across a range of market sectors.
The Living and Industrial/Logistics sectors are underpinned by the strong fundamentals of robust occupational demand and constrained supply. As a consequence, investor and occupier appetite in these sectors remains strong. In this context, the Group has recently announced the funding and commencement of a number of new schemes.
Johnny Caddick, Caddick Group, said: “Our focus on Living and logistics has proven its resilience and strength through recent years, putting Caddick Group in a strong financial position. Our work to secure a market leading pipeline of opportunities across our sectors has given us the headroom to invest for our future and secure a bright outlook for the Group.
“We have a national geographical reach, with projects now on site in the North of England, Scotland, the Midlands and the South. As a privately owned business, we have the flexibility to take decisions quickly and react at speed to evolving market conditions. Our expanding team has worked tirelessly to ensure we are in rude health, giving us the confidence to invest in our future, which is reflected in an expanding pipeline with a GDV approaching £10bn.”
