BANCON Group has reported a rise in both turnover and pre-tax profit for the year ending 31 March 2019.
The Aberdeenshire housebuilder and construction group increased turnover by 34% from £69 million to £92 million. During the same period, pre-tax profits rose from £151,000 to £780,000 for the year.
Bancon Homes almost doubled unit sales and opened three new developments, which the group said will ‘underpin activity’ in the year ahead and provide a ‘balanced portfolio’ of current and future developments.
Manufacturer Deeside Timberframe delivered a record turnover of £30 million.
John Irvine, chief executive of Bancon Group said, “Successful delivery of our long-term strategic plan has enabled us to achieve these positive results. Our homes business has performed very well in what continues to be a challenging market in the north east. A strong start to the current financial year with forward reservations and sales rates ahead of this period in the previous year, mean we are on-track to achieve a significant increase in profitability.
“The outlook is equally positive for our timber frame business which, as well as benefiting from increased demand, boasts high levels of repeat business from existing customers. With a strong, forward order book, we are confident in continuing this positive position.
“Finally, it’s pleasing to see that our focus on going after profitable contracts has seen our construction business achieving controlled growth and higher margins. The outlook for this new financial year is also positive with a healthy sales pipeline and orders already secured.”