Inverness-headquartered housebuilder Tulloch Homes has recorded continued growth over the past year, its newly-published annual results reveal.
In the 12 months following a management buyout in early 2015, Tulloch Homes Group generated turnover of £45m, posting an operating profit of £7.4m and pre-tax profits of £6.8m in its financial year ending 30th June 2016.
Over the same period, it sold 201 homes with an average selling price of £203,000.
George Fraser, Tulloch Homes Group chief executive, said: “The strength of our land bank, together with our dedicated employees and subcontractor pool have all contributed to these encouraging results.
“Since the buy-out just over a year ago, our strategy has been to focus on house-building and disposal of non-core assets, which is on schedule to be completed during this financial year. We’re pleased with the progress made in the past year and, with a healthy order book and positive market conditions, we’re looking forward to continuing our support for local communities in the Highlands and North East in the year ahead.”
Predominantly building in the Highlands and Aberdeenshire, the 90-year-old company employs over 180 people directly and has over 300 subcontractors.
Over the past year it has invested over £20 million in sites across Inverness-shire and Ross-shire, offering homes from £100,000 to £500,000. Current developments include Bellfield Meadows in North Kessock, Chanonry Park in Fortrose and The Courtyard apartments in Aberdeen.
Image: George Fraser, Tulloch Homes Group chief executive
