Keepmoat reports its Group revenue increased by 3.5% to £1,134m, reflecting strong growth in its Homes division.
Keepmoat have announced its results for the year ending 31st March 2016. The housebuilder reported, ‘continued strong demand for new housing’ which contributed to its performance that was ‘in line with expectations.’
It’s Homes business reported revenue had increased by £28.3% to £337m. During the period the business sold 2,416 homes, an increase of 13.3%. Average selling price increased by 13% to £139,000. The number of plots in the company’s land bank increased by 14.5% to 18,437 – strengthening its land portfolio available for development.
Dave Sheridan, Keepmoat Chief Executive commented: “Despite a year of changing government priorities, Keepmoat’s focus on working in long-term partnership to deliver community regeneration has continued to deliver growth. Our Homes Division has capitalised on growing demand for high quality homes at affordable prices and the future pipeline of projects provides a platform for continued growth.”
It also reported a ‘small decline’ in its Regeneration division revenue. Regeneration turnover was down 3.6% the previous year at £803m. Dave Sheridan commented: “Our Regeneration Division has experienced a year of consolidation as Local Authorities and Housing Associations reassess their priorities in the face of reduced rental incomes. In light of this, we are utilising our core skills to deliver innovative solutions into the private rental and retirement living sectors, complementing our core offering to Local Authority and Housing Association clients. We are excited by these new opportunities and their potential to deliver further growth.”