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Long-term focus drives record year for Mount Anvil

Mount Anvil, Central London’s specialist residential-led developer, today announced a record profit of £20 million for the year ended Dec 31st 2014 (2013: £15.4 million).

Continuing demand for a Mount Anvil home, across all its Central London developments, led to a 33% increase in turnover to a record £216.2 million (2013: £162.2 million).

The value of the company’s pipeline grew by 46% to £1.36 billion, accounting for 1,535 new homes (2013: 1,314 homes) and 20,000 sq m of commercial space (2013: 25,000 sq m) - driven by the purchase of Kidderpore Avenue, Hampstead (NW3) from King’s College London; and Keybridge House, Vauxhall (SW8), from BT Group - where the UK’s tallest brick residential tower will be created.

Killian Hurley, Chief Executive, Mount Anvil, said: “Ten years ago, our group turnover was £24 million. The record profit of £20 million which we have announced today, is testament to our people’s relentless focus on creating homes of exceptional quality and world-class design, in outstanding locations, and leaving a positive legacy for London.

“Mount Anvil has an unbroken record of profitability, including throughout the last recession. We believe it is our staff’s engagement which is the ultimate driver of our business achievements – people drive the numbers, numbers don’t drive the people.”

Financial Highlights:

  • Record profit of £20 million (2013: £15.4 million) – up by 30%
  • Record turnover of £216.2 million (2013: £162.2 million) – up by 33%
  • Adjusted Gross Margin of 28.5% (2013: 28.8%)
  • Record cash balance of £35.8 million at year end (2013: £32.6 million)
  • Return on shareholders’ funds of 44.2% (2013: 48.4%)
  • Average selling price of £649,000 (2013: £535,000)
  • Value of pipeline up by 46% to £1.36 billion (2013: £930 million)
  • Profit of £29.2 million generated for our partners across 4 joint ventures, since 2011.

 

Non-financial Highlights

  • Ninth consecutive year as one of the Sunday Times 100 Best Small Companies to Work For.
  • Recognised by the British Safety Council as the UK’s Number 1 company for health and safety across all sectors, receiving a 5-star rating, an unprecedented audit score of 99.8% and the prestigious Sword of Honour.
  • A finalist for the RESI Awards Developer of the Year (less than 1,000 units), for a third consecutive year in 2015 (Winner: 2013, 2014).
  • 98% customer recommendation rating from Independent research conducted by In-House Surveys.