Results for the year ended 31 March 2018
Date: September 13, 2018 14:52
Keepmoat Homes Limited, the UK’s leading partnership homebuilder, has released its financial results for the year ending 31 March 2018. The business performed strongly in the financial year ended 31 March 2018 with record sales of new homes and substantially increased revenues.
|Continuing operations||Year ended 31 March 2018 (£m)||Year ended 31 March 2017 (£m)||Change (%)|
|Adjusted Earnings Before Interest and Tax||41.7||34.2||21.7|
- Revenue increased by 31.3% to £555.6m (FY17: £423.2m)
- 3,717 homes sold – an increase of 27.1% on the previous year (FY17: 2,924)
- Average selling price increased from £145,000 to £149,000
- Number of plots within our land pipeline increased by 13% to 32,331 strengthening our land portfolio available for development
James Thomson, Chief Executive Officer of Keepmoat Homes, commented on today’s results:
“The last 12 months have been a transformational period for Keepmoat Homes. In the year to 31 March 2018 we delivered 3,717 much needed high quality new homes, 793 more than the year before and we saw an increase in our revenues of 31.3% to £555.6m. Our new financial year has started well and we plan to build over 4,000 much needed new homes this year.
“Following the sale of Keepmoat’s Regeneration division to Engie, which completed on 30 April 2017, Keepmoat Homes is now focused entirely on delivering more of the new homes the UK needs with greater speed and remaining the UK’s leading partnership homebuilder. We are also committed to a multi-tenure strategy with our partners including Homes England, local authorities, registered providers and the Private Rented Sector (PRS).
“We are pleased to partner with ilke Homes, one of the leading modular homes businesses in the UK. The industry is increasingly looking at modern methods of construction (MMC) and we welcome the Government’s support for modular construction to drive the delivery of additional homes over and above what the industry can currently build.
“With the help of ilke we delivered the first two homes using MMC at our Carr Lodge development in Doncaster and we have a healthy pipeline being built in partnership with ilke to follow. We continue to work closely with their team to create a product tailored to the aspirations of first time buyers and also to the requirements of our public sector partners.
“Over 80% of our current developments are on brownfield land. We are the UK’s leading brownfield builder and we are pleased to see an increasingly sophisticated approach to brownfield development from the public sector. Our brownfield delivery partnerships with Local authorities in Leeds, Sheffield, Rotherham and Herefordshire provide model approaches for others to follow.”
Click here to read the full report.