Profit also up at London housebuilder
Mount Anvil鈥檚 turnover rose to 拢252.2m in its most recent financial year.
According to the housebuilder鈥檚 results for the year ended 31 December 2023, its income was 7.1% higher than the 拢235.5m recorded in the prior year.
The proportion of income coming from its share of joint venture development shot up in the period, from 拢64.6m to 拢114.5m.
Meanwhile, turnover from contracting and construction (拢124.3m) and property development (拢13.4m) were both down slightly.
Pre-tax profit was also up, from 拢1.88m to 拢16.9m.
However, the firm said this increase partly reflected changes in the group鈥檚 accounting policies.
It said its previously stated pre-tax profit of 拢7.26m was 鈥渁 more accurate reflection of the business performance in the year鈥�.
The business delivered a total of 461 homes in the year through its joint ventures, which are focused on central London.
This was 19% higher than the 386 built in the 2022 financial year.
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Mount Anvil said its results for the year had been 鈥渄riven largely鈥� by 257 homes developed at the Silk District scheme, which is a joint venture with L&Q, and 178 home completions at its Royal Eden Docks scheme, which is being developed in joint venture with London International Exhibition Centre.
As of December 2023, the total pipeline of homes carried forward on Mount Anvil鈥檚 developments amounted to 4,296, which it estimates have a total sales value of 拢2.3bn.
The group says it has already secured 100% of its 2024 sales target and 61% of sales target across its five-year plan.
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