Property group’s turnover breaks through £150m barrier

Stoke-on-Trent-based Novus Property Solutions has seen turnover pass the £150m mark in a year which the business said it exceeded expectations despite challenging conditions.

In accounts for the year to the end of December 2018, the company’s turnover increased from £148.5m to £155.7m, while pre-tax profits went from £5.4m to £5.5m.

During the period, the company disposed of three remaining void properties; the site of the previous Wotton Building Supplies, the former Duke Street head office and the old Bristol office. This concluded the company’s disposal programme following a strategic review of its land and buildings.

At the time of signing off its accounts for the period, Novus said it had an order books of £138.4m for 2019 which represents around 86.1% of turnover.

“2018 has been another successful year for the business despite the trading environment remaining challenging”, the company said.

“Novus performed well, not just financially but with solid progress delivered towards non-financial objectives.

“The consistency of our performance demonstrated our commitment to continually improve, resilience and quality of delivery in our core markets.

“Novus has delivered turnover in excess of budget all all years since the group was restructured in 2013.”