Profits for Inland Homes are expected to be “marginally lower than the market forecast”, with completions down nearly 41%.
The company delivered 147 homes in the year ending 30 June, down from 248 in the year before, a trading update has revealed.
As a result, profits are expected to be “marginally lower” than their projected £15.9m.
Inland also has 315 homes under construction across eight sites, with an order book of £23.4m. Its land bank grew to a record 6,552 plots at the end of the financial year.
Stephen Wicks, chief executive of Inland, said: “The appetite for our consented land is similarly unabated, while the size and quality of the land bank we are amassing has exceeded our targets.
“While we have been somewhat impacted in the short term by one of our contractors going into administration, against the current supportive market environment, we look to the future with considerable optimism.”
Earlier this month, it bought the former Tesco HQ in Cheshunt, Hertfordshire, as part of a 20-acre regeneration scheme for 1,000 homes.
Inland will announce the preliminary results for the year in September.
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