Housebuilder looks towards healthy future
EAST Yorkshire housebuilder Peter Ward Homes is forecasting a “healthy” future.
The Beverley-headquartered firm was founded in 1978 and since then, has built some 2,000 new houses and bungalows.
Director Peter Ward told TheBusinessDesk.com that sales at the firm held up throughout the economic downturn and is optimistic about where the business is heading.
“I see a healthy future for us. We’ve got a lot of sites coming through. And there is a lot of building land,” Ward said.
In its latest accounts for the year ended December 31 2013, the firm reported pre-tax profit of £917,671 up from £134,687 in 2012 on turnover of £10.1m, which increased by 2.2% from the previous year. Operating profit increased to £958,425 from £306,044.
In its accounts, the firm said: “The company has enjoyed a hugely successful year, reporting increases in turnover and profit, together with healthier margins. The company’s working capital has benefitted as a result, making the company less reliant on bank finance and in control of its own funding requirements.
“The directors are optimistic that, as the UK economy continues to grow, the company will remain profitable and will be able to take further advantage of its high quality land bank.”
In busy periods the company employ around 80 people.
The business has a number of developments in the pipeline, one of its most prestigious being its “ultra” luxury homes development at East Riding College’s Gallows Lane site in Beverley.
With a price tag starting at around £500,000, Ward said these will be the “most upmarket” homes built in Beverley for a number of years.
Other projects include a site off Hull Road, Woodmansey near Beverley, where the firm wants to build 44 new homes. Ward has been consulting with the local community about the project.
