Number of homes firm built last year up by 8% to more than 4,000

Keepmoat has attributed a rise in housing completions and revenue to the “resilience” of its partnerships business.

The housebuilder built 4,074 homes in the year to 31 October 2023, an increase of 8% on the 3,776 the prior year.

Revenue increased 11% to £865m but pre-tax profit was down 10% to £83m.

Keepmoat Timeless streetscene _Y1_49716

The number of homes Keepmoat built last year topped 4,000

Keepmoat said its partnership model had allowed the business to “to respond to the impact of high inflation and high mortgage rates on private buyer confidence, with an increased proportion of completions delivered to our Registered Provider partners”.

Deliveries to registered providers made up 45% of the group’s volume, up significantly from 27% in the year prior.

More than four in five homes were built on brownfield land or in regeneration areas, compared with 77% the year prior.

>> Profit and revenue up as partnerships shift continues at Vistry

Chief executive Tim Beale said the results “demonstrates the unique resilience of the Keepmoat Partnership Model”.

At its year-end, the number of planned future completions within the land pipeline was more than 23,100, which represented six years of delivery at current volumes.

The business closed the year with cash equivalents of £164m.