Brookhouse grows pre-tax profits
BROOKHOUSE Properties increased profits by 16% to £9.5m in 2011 as revenues climbed by 10% to £19.5m.
The company, which is currently delivering regeneration schemes at Horrock’s Quarter in Preston, Parsonage Way in Leigh and at Alexandra Retail Park through a joint venture with Oldham Council, saw the value of its net assets increase by over £29m to £230m by its year end. The firm’s borrowings also increased to £122.2m (£106.5m).
The Sale-based company is owned by a trust company registered in Luxembourg. It paid out more than £2m in dividends to shareholders during the year, compared with £225,000 in the prior year.
The company, which began life in the 1930s, specialises in retail-led regeneration schemes and has more than 1.5m sq ft of retail property in its portfolio – of which around 500,000 sq ft is foodstore retail. It also recently re-introduced a housebuilding operation, Brookhouse Homes.
