Larkfleet enjoys strong performance in six months post first lockdown
8 March 2021
Larkfleet Group, which includes Larkfleet Homes and Allison Homes, has seen a strong trading performance since exiting the first lockdown in the summer of 2020.
A statement from John Anderson, Group CEO of Larkfleet Group:
“All parts of the business have performed well over the reporting period since the first lockdown last year. Strong demand for our homes and a far greater focus on control of work in progress and strategic investment has resulted in cash reserves and balance sheet improving significantly.
“We have strengthened the team and made significant improvements in our operational infrastructure and procedures leading to better quality control, safety and the standard of service we provide to our customers.
“Our reservations and completions over the period have materially exceeded expectations with 235 new reservations taken over the six-month period ended 31st December 2020 (2019:177) and 256 new home completions over the same period (2019:196).
“As at 15th February 2021, the house building order book for financial year ending June 2021, stood at 479 units, continuing the strong performance from the first half of the financial year. In addition to this strong order book, we are also carrying 226 units into future financial years.
“The group handed over 32 Affordable Homes to local residents and helped 96 people to move with the popular, government-backed, Help to Buy scheme, enabling first time buyers to buy their first home. Other initiatives included a part-exchange and various Assisted Move schemes that have enabled many people to move to a newly built home.
“The Group has successfully brought forward option sites through the planning process, acquired new sites, and agreed new land options for the future to feed our ambitious growth plans. Since 1st July 2020 we have secured planning permission for 1,297 units and have acquired or exchanged contracts on new land which will provide a further 455 new homes.
“We are also extremely proud of our record in helping local communities enjoy the often-ignored economic benefit that new home building provides. Over the course of the financial year (based on Knight Frank Estate Agents analysis), achieving our forecast completions we will provide over £80m of economic benefit to the community which includes almost £26m spent on suppliers creating over 1,500 local jobs. In addition, the new homes bonus will provide Local Authorities with an additional £1.8m and an annual council tax income of almost £700,000 annually.
“Karl and Helen Hick, Owners and Chairman of Larkfleet Group and I would like to thank all staff, sub-contractors, suppliers, local authorities, housing associations and funders for their continued support.”