HOUSEBUILDER Keepmoat has announced a ‘record breaking’ financial performance for the year ending 31 October 2022.
The business increased revenue by 10.9% to £778.1 million compared to £701.6 million the previous year.
EBITDA increased 39.6% to £114.3 million, while the selling price rose 14% to £204,000.
In total, Keepmoat delivered 3,776 new homes across the UK during the period.
Tim Beale, CEO of Keepmoat, said, “The 2022 financial year saw Keepmoat deliver a record breaking financial performance, which is a remarkable achievement and one that I am personally extremely proud of.”
He added that the company remains committed to a multi-tenure strategy, working with partners including local authorities, registered providers and the private rented sector.
“As we move through our new financial year, our capital light, multi-tenure, partnership business model is once again proving its flexibility and resilience. Despite the turmoil in the mortgage market at the end of 2022 following the mini-budget, we have been able to secure additional delivery to registered providers and to the private rented sector, who operate long term business models with associated long term funding, meaning their investment in new stock is unaffected by the short term dynamics that can impact private buyer demand. This approach has enabled us to maintain delivery, where others are looking to slow down production.
“Looking ahead I am optimistic, following a strengthening of reservations in the early part of 2023, that some confidence and stability has returned to the market. We have an excellent forward sales position, better even than this time last year. Furthermore, our strong land pipeline, equal to circa six years of delivery, retains flexibility and opportunity for us to deliver on our strategic objectives.”
