Finance
Mount Anvil Group Ltd
Report and Financial Statements for the year ended 31 December 2012
Key Highlights:
- £10.1m profit before taxation (2011: £2.0m)
- 24.1% Adjusted Gross Margin* (2011: 17.3%)
- Adjusted Gross Margin carried forward on contracted schemes at 31 December 2012 of £123m (2011: £64m)
- Turnover up 20% at £108.2m (2011: £90.5m)
- 480 completions (2011: 165)
- 1,256 homes under development of which 996 are private development with a value at current day prices of £665m. Off plan sales of £78m are in solicitors' hands
- Average selling price for private development £525,000 (2011: £467,000)
- Cash balance at the end of December of £12.8m (2011: £7.6m)
- £120m of new bank facilities secured in the year (2011: £118.5m) and £44.5m of joint venture and mezzanine funding secured (2011: £30.5m)
- Return on shareholders’ funds before tax of 47.7% (2011: 11.1%)
* Adjusted Gross Margin includes our share of Joint Venture’s gross profit and excludes mezzanine financing costs.
Mount Anvil Group Ltd Report and Financial Statements for the year ended 31 December 2012
Mount Anvil Group Ltd Report and Financial Statements for the year ended 31 December 2011