FINANCE: Residential developer Mount Anvil has posted a record profit of £20m in 2014.
Turnover increased to £216m.2m over the year, up from £162.2m the year prior – an increase of 33% year-on-year as the company completed on more properties for a greater selling price.
The average selling price increased to £649,000, up from £535,000 in 2013. Killian Hurley, chief executive of Mount Anvil, said that this was largely owing to improvements made to new projects and an increase in the quality of the product being offered to customers.
The value of Mount Anvil’s pipeline rose by 46% on 2013 to £1.36bn with 1,500 units due for completion in 2015 and 2016.
Since 2011 the company has delivered £29.2m in profits for partners it has worked in joint venture with.
