But housebuilder records another year of losses as revenue drops from open market and affordable sales
Turnover at Allison Homes remained steady last year on the back of a strong performance in its partnerships business.
Company accounts for the year ended 30 September 2024 show that the housebuilder made £97.67m, marginally up from £97.57m in the same period the year prior.
The company, which operates in Lincolnshire, Rutland, Cambridgeshire and Nottinghamshire, said the small rise was the result of new partnerships deals.
It said the focus on such sales provided “a much more reliable revenue stream, particularly in times where the housing market is slow”.
Partnership sales nearly doubled from £22.86m to £43.26m in the period, while revenue from open market sales and affordable sales both dropped.
It said market conditions such as high interest rates had reduced customer demand for open market sales, but that the outlook for 2025 and beyond was “more positive”, due to an expected fall in interest rates and the government’s support of housebuilding.
Despite the growth in turnover, the firm recorded a pre-tax loss of £3.43m, though this was smaller than the £7.33m loss made in 2023.
>> Read more: Allison Homes reports £4.9m loss as it eyes partnerships shift
The latest accounts showed that the firm achieved a total of 397 completions in the period, down from 432 the year prior.
Of these, 160 were open market sales, 40 were affordable and 197 were delivered through partnership building.
The group achieved planning consent on 12 sites across the year, for 1,950 units with £298.2m of gross development value.
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