Doncaster home builder Strata reports record profits as revenue hits £128m

Strata, the privately owned regional home builder, has reported record profits as it delivered a total revenue of £128m in the year ending 1st July 2017.

Compared to the previous full financial year ended 31 December 2015, turnover rose by 30%, and pre-tax profit on residential property sales (before share based payment charges) increased from £11.1m to £20m in the same period.

The Doncaster-based business completed 605 homes across 20 sites in the last 12 months, with an average selling price of £212k, up by 22% on the 12 month period ended 31st December 2015.

Strata said that this growth was driven by acquiring sites across a wider geography throughout Yorkshire and the East Midlands. The development of schemes with house types that are suited to families and those who want to move up the property ladder, has in turn led to a higher average selling price.

Andrew Weaver, Strata’s chief executive, commented: “Despite wider political and economic uncertainty, we are exceptionally pleased by the resilience of the housing market in Yorkshire and East Midlands.

“As well as improving our operational margin, we have used the favourable conditions to widen our geographical reach, diversified our house type range and fortified our position as a fore runner in design and customer service.”

With a strong land pipeline and sites negotiated or contracted, future growth for the company is reinforced by a record forward selling position going into 2017/18 with 65% sales committed of the 700 plots forecast.

Weaver added: “2016/17 saw the highest demand since the launch of Help to Buy in 2013, this has been coupled with high affordability pass rates and record low cancellation rates.

“Furthermore, our focus on customer experience has seen us named as one of only 15 housebuilders nationally to secure 5-star status from the HBF.”

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