2016 was another year of rude financial health for the nation’s biggest housebuilders – however much the UK falls short of providing enough actual homes for its people to live in – albeit not quite reaching the highs of 2015. The top 30 biggest firms pulled in £23.4bn in housebuilding revenue, a marginal uptick on the £23.3bn the previous year, and generated £4.2bn in pre-tax profit, a margin on overall turnover of 12%, down from 14.4% in 2015. This small reduction reflects a year in which the market has cooled off in the highest value areas alongside strong demand elsewhere. Despite the well-publicised travails of Bovis Homes – which nevertheless still reported a £154m 2016 profit – larger housebuilders are performing better than their medium-sized peers, with the top 10 builders reporting a whopping 16.5% average margin. Cenkos’ Cammack says: “They’re very strong, and massively different to the picture at the peak of the last cycle. Very few are carrying significant levels of debt, and, with the exception of Bovis, every listed builder has improved margins and returns.” Cammack says this leaves them in a good place to face three oncoming challenges: increasing labour shortages, possible increases in interest rates, and the potential reduction in government support.
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|2017||2016||Company||Total turnover £000||% change on 2016||Pre-tax profit £000||Year-end||Contracting £000||Housing £000||Property £000||Services £000||Other £000|
|12||13||McCarthy & Stone||635,900||30.92||92,900||Aug-17||635,900|
|13||-||Places for People||616,584||11.99||43,670||Mar-17||616,584|
The data in these tables is provided to Building by construction data firm Barbour ABI and is based upon the most recent accounts filed for each of the relevant companies. Housebuilders, building main contractors, civil engineering contractors, fit-out contractors, other subcontractors and “hard” FM/building services management companies have been included. Where firms are owned by international companies, then the data is from the relevant UK subsidiary business /businesses. Data for the sectoral breakdown of turnover has been included where supplied. Any queries regarding the data should be directed to Barbour ABI. To contact, call 0151-3533 500, email email@example.com or visit barbour-abi.com