Campion Homes more than doubles sales to top £30m
A significant upturn in private and social housing work has resulted in a “period of considerable growth” at Campion Homes.
Accounts published at Companies House show the Fife housebuilder achieved a 109% increase in revenues in the 12 month period to June 30 – taking sales from £14.57 million in 2016 to £30.38m.
Pre-tax profits also spiked, jumping from the £555,000 return generated in 2016 to £2.33m in the most recent financial year.
Founder and executive chairman, Pete Bell, said: “The principal activity of the company continued to be that of constructing residential houses within the private and social housing markets.
“The results for the year reflect a period of considerable growth for the company.
“Turnover increased to £30.4m, a 109% increase on the previous year.
“This was driven by significant increases in activity in both the private and social housing markets.
“The company continues to create inspiring homes that are designed around individual requirements in both sectors.
“The company has continued to strengthen its balance sheet with net assets at June 30, 2017, of £6.56m.
“The company also has development funding from the Business Growth Fund to help accelerate its building programme across both sectors.
“This funding will enable the company to respond to growth opportunities as they arise.”
In December last year, the builder said its performance was affected by deferred starts on a number of larger projects but was hopeful that securing a multi-million pound investment from the Business Growth Fund (BGF) the previous July would help accelerate its building programme in both private residential and affordable homes.