Sales for Strata in the year ending 1 July 2017 has seen the private homebuilder report record profits, along with double-digit growth for a second consecutive year, as it delivered a total revenue of £128m.
In comparison with its previous full financial year ended 31 December 2015, turnover rose by 30%, and profit before tax on residential property sales (before share based payment charges) took a substantial leap forward from £11.1m to £20.0m in the same period. The business has completed 605 homes across 20 sites in the last 12 -months, with an average selling price of £212,000, up by 22% on the 12 month period ended 31 December 2015.
Growth has been driven by acquiring quality sites across a wider geography throughout Yorkshire and the East Midlands. The development of quality schemes with house types that are suited to families and those who want to move up the property ladder, has in turn led to a higher average selling price.
Strata’s Chief Executive, Andrew Weaver, commented: “Despite wider political and economic uncertainty, we are exceptionally pleased by the resilience of the housing market in Yorkshire and East Midlands. As well as improving our operational margin, we have used the favourable conditions to widen our geographical reach, diversified our house type range and fortified our position as a fore runner in design and customer service.”
With a strong and sustainable land pipeline and sites negotiated or contracted, future growth for the brand is reinforced by a record forward selling position going into 2017/18 with 65% sales committed of the 700 plots forecast.
Weaver continued: “2016/17 saw the highest demand since the launch of Help to Buy in 2013, this has been coupled with high affordability pass rates and record low cancellation rates. Furthermore, our focus on customer experience has seen us named as one of only 15 housebuilders nationally to secure 5-star status from the HBF.”
Employing 178 people, Strata was recently named in the Sunday Times BDO Profit Track 100 where it was ranked 20th in the league table, having been identified in the 10 companies included in the Ones to Recognise Category in the Top Track 250 in the previous year.
Image: Strata’s Chief Executive, Andrew Weaver
