Number of homes firm built last year up by 8% to more than 4,000
Keepmoat has attributed a rise in housing completions and revenue to the 鈥渞esilience鈥� of its partnerships business.
The housebuilder built 4,074 homes in the year to 31 October 2023, an increase of 8% on the 3,776 the prior year.
Revenue increased 11% to 拢865m but pre-tax profit was down 10% to 拢83m.
Keepmoat said its partnership model had allowed the business to 鈥渢o respond to the impact of high inflation and high mortgage rates on private buyer confidence, with an increased proportion of completions delivered to our Registered Provider partners鈥�.
Deliveries to registered providers made up 45% of the group鈥檚 volume, up significantly from 27% in the year prior.
More than four in five homes were built on brownfield land or in regeneration areas, compared with 77% the year prior.
Chief executive Tim Beale said the results 鈥渄emonstrates the unique resilience of the Keepmoat Partnership Model鈥�.
At its year-end, the number of planned future completions within the land pipeline was more than 23,100, which represented six years of delivery at current volumes.
The business closed the year with cash equivalents of 拢164m.
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