Inland Homes sees lower revenue this year as pandemic weighs

Mon, 26th Oct 2020

House builder Inland Homes said it expected to report lower revenue for this year, compared with 15 months through September last year, owing to the impact of the pandemic. For the year ended 30 September 2020, revenue was expected to be no less than £135.0 million, compared with revenue of £147.9 million seen in the 15-month period to 30 September 2019. The company said its revenue run-rate was at a higher level than the comparative period, principally because of the 'increased number of partnership housing developments under construction, which continue to generate significant monthly revenue, achieved completions on land sales and plots delivered to plan.' During the year, the company sold 226 private homes, up from 202, across 11 active sites. with an average selling price of £287,000, up from £250,000. Inland Homes sold 449 plots during the year and had grown its land bank to a record 11,045 plots, up from 7,796, and had secured planning consent for 2,470, up from 2,956. 'Whilst the general economic outlook remains uncertain, there is a fundamental shortage of high-quality, affordable housing across the UK and particularly in the South and South East of England which creates a sustained demand for our land assets, homes and expertise,' the company said. Story provided by StockMarketWire.com

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