But Britain’s largest privately held housebuilder warns of ‘mixed backdrop’ ahead
Bloor Homes has reported a 21% increase in its pre-tax profit, citing extra sales and a boost from house price inflation.
Britain’s largest privately owned housebuilder, in its accounts for the year to 30 June 2022, reported pre-tax profit of £317.6m, up from £261.8m the previous year.
Its turnover rose 9.6%, from £1.25bn to £1.37bn, over the same period.
The housebuilder, which ranked ninth in Housing Today’s most recent Top 50 Housebuilder rankings, said the increases to turnover and profit were due to additional plots sold “coupled with house price inflation”. Bloor sold 4,241 homes in the year, up from 4,075 the previous year.
However, the Leicestershire-based firm said that current UK economic conditions are now creating a “mixed backdrop for the housing industry”.
>>See also: Top 50 Housebuilders analysis
It said: “Recent increases in the Bank of England base rate, and subsequent increases in mortgage loan rates, have made the landscape more challenging, but the company remains optimistic and well-placed to navigate the situation.”
John Bloor, who owns the housebuilder along with Triumph Motorcycles, is frequently described as the housing sector’s richest person.
He ranked 85th in the most recent Sunday Times’ Rich List in October, with a stated wealth of £2.1bn.
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