CAMPION Homes has announced a ‘strong’ set of financial results for the year ended 30 June 2022, with a 16% rise in turnover to £48.5 million.
However, the firm stated that margins have been impacted by the challenges around labour and material shortages, as well as ‘unprecedented’ material price inflation.
During the year the company completed its two established private developments at Law View, Leven and Linden Meadow, Star. Campion described sales rates as ‘strong’ during the year, resulting in a quicker completion at Star than originally forecast. In total across both sites, 44 homes were completed.
The new development at Oak Bank, Glenrothes was launched in April and the latest site in Crieff has also commenced initial works.
During the year Campion handed over 132 homes to housing association and local authority clients and started construction on a further 64. A ‘significant’ number of sites were under construction at the start of the financial year, resulting in 472 homes being under construction at the year end.
In early July, Business Growth Fund (BGF) exited its investment in the company. Campion revealed it utilised its profit growth and strong cash generation during the six-year relationship to buy out BGF’s position in full.
The company added that it has provided nine new apprenticeship opportunities this year across several different trades, bringing the total number of apprentices employed at the year end to 21.
Executive chairman Pete Bell said, “Like many companies we have been negotiating our way through a period of rocketing price inflation which continues to put significant pressure on the business. Alongside this volatility and increasing interest rates, we expect future results to be impacted, while the economy recovers from the long-term impact of Covid-19 and the wider world economic situation.
“However, our pipeline of work is strong and our excellent team will carry on working with our valued partners to deliver the high quality, energy efficient homes that homeowners and tenants seek.”