Housebuilder creates strong foundation for growth
HOUSEBUILDER Beal Developments has built a strong foundation for growth, after better house sales led to increased profits.
Pretax profits increased significantly to £2.16m from £1.56m
Reporting turnover of £24.1m, an increase on £22.2m in revenues for the year ended 31 December.
House sales increased significantly, making up £23.6m of their total revenue, as opposed to contracting income or land sales.
The firm has also increased its workforce from 87 to 104 staff over the course of the year.
The highest paid director earned significantly less than the year before, taking a pay cut from £221,266 to £130,533.
The firm said in a statement: “The directors have implemented a strong business model based upon the core values of the ‘Beal’ brand; offering a range of homes across East Yorkshire and Northern Lincolnshire constructed to the highest standard of craftsmanship, using only top quality materials.
“This ethos has helped set Beal Homes apart from its competitors, building upon its existing reputation for excellence.
“The diversity of the Beal’s range – from one bed apartments to five bedroom homes, constructed across a range of both suburban and rural locations – ensures the company is able to cope with on-going changes in market demand.”
