Growing South-east housebuilder doubled its profit in 2016.
Housebuilder Storey Homes, based in Milton Keynes, has reported it doubled its profit in 2016 and reports that the Brexit vote did not affect property sales. The company is looking to increase its foothold across Bedfordshire, Hertfordshire and Buckinghamshire in the coming year, with more land acquisitions and new schemes in the planning pipeline.
During 2016, the family-owned housebuilder with developments across Bedfordshire, also saw its direct work force grow by 20%, as well as engaging larger subcontractors and suppliers to meet the demands of the growing business.
Managing Director, Katy Jordan, commented: “The company has seen encouraging growth this year. The most notable change is with the size of the subcontractors we now engage with. We have had to shift up a gear by employing subcontractors, who have the capacity to cope with our increased workload and who have the ability to support us as we continue to grow and identify new opportunities to deliver quality new developments.”
Brexit
The company also confirmed that it had not been adversely affected by the vote to leave the EU. Katy Jordan said: “In November and December we have seen greater levels of enquiries compared to previous years, and people are not afraid to commit either. Across the industry, this is usually one of the quietest periods for sales, but we have found many people were just waiting for the vote to be over, before continuing with their plans to purchase a property; buyers have certainly not lost confidence.”
Storey Homes is set to triple its build rate this year with new developments in Bedford Town Centre and in Milton Keynes. Katy Jordan added: “We feel really positive about the coming year, and I am very lucky to have the support of such a fantastic team to help deliver our goals. In 2017, I am looking forward to working with our professional team, continuing to build on our strong forward sales position, getting more of our sites through the planning system and purchasing new sites.”
