We pride ourselves on truly working in partnership and our we’ve crafted our homes through joint ventures (JVs) new and repeat in 2017. We’re thrilled to have generated a total turnover of £283m (£258m in 2016) and more importantly, £76m profit for our JV partners in 2017 (£50m in 2016).
By delivering high quality homes and creating a great customer experience we’ve also once again won a Gold Award for Customer Satisfaction from independent In-House Surveys for 2017 and a 98% customer recommendation rating.
Killian Hurley, CEO at Mount Anvil, said: “Our financial results show that Mount Anvil has put in another solid performance for FY 2017, generating our highest-ever profits for us and our partners. Commitment to repeat partnerships remains key for the future success of our business.
“We’ve been disciplined in our land purchases, working in joint venture partnership to increase our pipeline of homes to 4,124. The majority of these sites have been acquired off the open market, where our long-term interests are aligned. Subject to achieving planning, we expect to start on 2,843 new homes by March 2021, of which 36% will be affordable – a record level for Mount Anvil and significant marker of our growth. All of these new homes will be in London. To quote Warren Buffet, we’re ‘putting all our eggs in one basket’ and will watch it very closely.
“We ended the year with cash in hand up 72% to £32m (2016: £18.6m) and we’re also now debt free. Given the market uncertainties, it’s been an achievement to end the year holding a significant cash balance.”
Want to find out more about our homes? Take a look at them here.
Download our FY 2017 Annual Report and Financial Statement here.