East Mids housebuilder posts record profits

Andrew Weaver

Strata, the East Midlands housebuilder, has posted record profits for the year ending 1 July 2017, along with double-digit growth for a second consecutive year, as it delivered sales of £128m.

Turnover rose by 30% year-on-year, and profit before tax on residential property sales (before share based payment charges) rose from £11.1m to £20m 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.

Strata has two sites in Nottinghamshire; Essence and Ethos, one site in Leicestershire; Opulence, and three in Derbyshire; Expression, Ambience and Definition.

A total of 124 homes have been built in Nottinghamshire, and during the last financial year, Strata has sold 73 properties with an average selling price of £254,000.

In Leicestershire, Strata secured planning to build a total of 98 homes in the area. During the last financial year, it sold 33 properties with an average selling price of £265,000.

Some 373 homes have been built in Derbyshire and 83 properties have sold within the last financial year with an average selling price of £213,000.

Strata’s chief executive, Andrew Weaver, said: “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.”

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