Inland Homes, the housebuilder and brownfield land regeneration specialist, has announced record half-year results.
Revenue for the group increased by 4.9% to £55.1m, reflecting a higher average selling price per unit of £325,000, compared with £242,000 in 2014.
Pretax profit increased by 274.4% (including a £14m revaluation surplus) to £21.5m.
There was a net increase in the group’s landbank with the addition of 833 plots, bringing the total number of plots in the portfolio to 5,672, of which 1,146 have planning consent.
Net asset value per share was recorded at 84.4p.
Chief executive Stephen Wicks said the results reflected a positive market with strong demand for its affordable homes in strategically located areas.
He added: “Our strategy of regenerating brownfield sites that are well-located in areas of growth in the South East is delivering clear results and, with our key development projects progressing as planned, we are looking forward to the rest of the year ahead with confidence.”
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