Bewley Homes has announced a set of record results for the Group in 2021.
The housebuilder’s turnover almost doubled from £84.4m in 2020 to £156m in 2021, its record year to date, with sales completions rising to 443. Group profit rose by 115% to £34.4m, with gross margins a new high of 22%.
Bewley Non-Executive Chairman, Greg Locke, commented: “It has been a stellar year for Bewley and the Group is in an excellent position to hit our objectives going forward. I am extremely proud of our team and the record results produced in 2021. We are in excellent shape and have set out a strategy and three-year plan to grow the business in excess of £200m. To support this growth, we have expanded our land team and opened a new office in Swindon to extend our geographical area and operations in the West.”
Greg added: “In addition to the financial support we receive from our shareholder, our debt facility has been increased to £110m with a new facility recently signed with HSBC and Lloyds.
“We will look to drive our future growth through profitable land acquisitions, together with delivering sites from our strategic land portfolio, which has been growing considerably over recent years and is set to deliver some quality developments.”
Andrew Brooks, Managing Director, said “The current pipeline of homes in planning and construction puts the company on course for another excellent year in 2022.
“We benefit from strong financial foundations which will see us continue to increase turnover in the coming years as we expand our areas of operation.
“We have been creating exciting new communities, throughout the south, for more than 30 years and we are now looking to offer our homes to a wider audience.
“The focus now is on acquiring suitable land for us to create new communities and we are actively looking for sites which would accommodate anything from 40 to 500 homes.”
Andrew added: “Being privately owned with a short chain of command and excellent liquidity gives us the ability to act quickly and provides flexibility in the way we structure a transaction which, in turn enables us to build a sustainable business with a great reputation.”