Keepmoat turnover tops the £1bn mark
SOCIAL housing developer Keepmoat has posted turnover of £1.09bn to 31 March 2015.
The Coleshill firm has seen an increase in revenue of 17.7% against last year’s figure, while operating profit also rose, up from £55.7m in 2014 to £58.1m for the last financial year.
Keepmoat is working on a number of new build and refurbishment housing and regeneration projects in the region. These include The Crofts, an £11m refurbishment project in Smethwick, on behalf of Sandwell Council, while in Birmingham it is building 92 new homes in Newtown, working with Birmingham Municipal Housing Trust.
The company’s regeneration revenues increased by more than 15% to £832.4m, while its Extra Care offering, for older and vulnerable people and the new build social housing sector, continued to grow.
Elsewhere, operational highlights included a £100m framework win to bring properties up to Decent Homes standard in London’s Enfield and the first home sales made by Keepmoat’s newly established Southern Region in Peterborough and Cambridge.
Martin Smithurst, regional managing director for Keepmoat’s regeneration business, said: “It’s been a fantastic year not just regionally, but nationally too as we reach the £1billion turnover mark for the first time.
“We have a strong and extensive track record in community regeneration and social housing solutions and the financial stability to deliver on a national scale.
“Our focus this year is to continue to work in close partnership with local authorities to improve communities and regenerate areas, address fuel poverty through the reduction of carbon emissions and innovative solutions within the construction process and we will further develop our responsive maintenance offer.”
