Mixed-tenure housing specialist Strategic Team Group has bucked the trend in the construction sector reporting a rise in profits for the fifth consecutive year.
Business highlights for the year 2017/18:
Andrew Watson, Managing Director commented, “These strong results are testament to the strategy we embarked upon five years ago. Our business is built on the solid foundations of strong customer relationships and deep market knowledge.
“We have built more than 400 homes this year and will build in excess of 500 in 2018/19 which includes our first land-led site opportunity for an institutional PRS developer, securing a place on their construction framework.
“Our continuing focus on quality of earnings, growing orderbook, pipeline of new mixed-tenure sites, and our ever-watchful eye on risk mitigation and management has provided our fifth year of strong rising profits and cashflows.
“In the current uncertain economic and political climate, all indicators suggest that investment in affordable housing, the shortage of supply, the need to unlock land, and a skills base shortage all point favourably to the dynamic yet flexible strategy STG has adopted to deliver and expand its current housing output.
“We continue to build quality cost effective homes and communities in the North of England, where people are proud to live, and call “home” and the Board looks forward to another year of successes.”