Landmark joy at record £3.6m profits
Bolton-based property investment business Landmark has announced a record profit for 2016 financial year of £3.6m-plus.
Landmark Investments Group said the figure was a 24% increase on the previous record.
Mark Hawthorn, group chief executive, Landmark, said: “As an investment company we take a long term view with a focus on longevity and strategy over short term profits. These results are a direct validation of this approach and a result of many years of prior investment coming to maturity. The portfolio is exceptionally robust, continues to grow at a pace and we have substantial funds available to underpin our ambitions going forward.”
Highlights of the year included 58% growth in rent roll under management; investment portfolio increased to £35m, targeted £50m in 2017; insurance portfolio value surpassing £750m and forecast to be in excess £1bn in 2017.
Andrew Savage, finance director, Landmark Investments Group said: “The primary focus of the group is residential and commercial ground rent investment.
“We conservatively estimate there to be well in excess of £600m of new opportunities coming to market each year.
“The group is well positioned both financially and operationally to respond swiftly in what is a complex and constantly evolving market. We remain on target with our objectives and fully expect 2017 to comfortably surpass 2016.”