Clowes shrugs off Brexit vote to double revenues

Revenues at Derbyshire-based Clowes Developments have more than doubled in the past year, increasing from £46.5m to £93.1m.

Pre-tax profit has also jumped from £18.2m to £29m.

A spokesperson for the company said: “The impact of the vote by the UK to leave the European Union in June 2016 has had a limited impact on the group to date.

“One small property sale was not completed post Brexit as the purchaser used it as a reason to attempt to reduce the agreed price.

“A number of funds were pulled back from the UK property market in summer 2016 but investor appetite has returned.”