Profit also up at London housebuilder
Mount Anvil’s turnover rose to £252.2m in its most recent financial year.
According to the housebuilder’s results for the year ended 31 December 2023, its income was 7.1% higher than the £235.5m recorded in the prior year.
The proportion of income coming from its share of joint venture development shot up in the period, from £64.6m to £114.5m.
Meanwhile, turnover from contracting and construction (£124.3m) and property development (£13.4m) were both down slightly.
Pre-tax profit was also up, from £1.88m to £16.9m.
However, the firm said this increase partly reflected changes in the group’s accounting policies.
It said its previously stated pre-tax profit of £7.26m was “a more accurate reflection of the business performance in the year”.
The business delivered a total of 461 homes in the year through its joint ventures, which are focused on central London.
This was 19% higher than the 386 built in the 2022 financial year.
>>See also: Briefing: Why Mount Anvil’s ethos comes from ‘granny’s shop’
Mount Anvil said its results for the year had been “driven largely” by 257 homes developed at the Silk District scheme, which is a joint venture with L&Q, and 178 home completions at its Royal Eden Docks scheme, which is being developed in joint venture with London International Exhibition Centre.
As of December 2023, the total pipeline of homes carried forward on Mount Anvil’s developments amounted to 4,296, which it estimates have a total sales value of £2.3bn.
The group says it has already secured 100% of its 2024 sales target and 61% of sales target across its five-year plan.
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