The group decided to become a hybrid contractor and housebuilder in early 2010
Willmott Dixon Homes - the residential development arm of the construction company - has seen its turnover more than double in less than a year of the group’s new strategy to be a hybrid housebuilder and contractor.
The division reported turnover of £18.2m for the financial year to 31 December 2010, up 164% from the previous year’s figure of £6.9m, according to accounts filed with Companies House.
Willmott Dixon Homes has worked on a number of joint venture projects of late including the Harmony scheme with Notting Hill Housing at Isleworth, a 170-unit venture with the same business partner at Merton and a deal with Catalyst Housing Group at Dee Park in Reading.
The turnover growth follows the group decision made in early 2010 to become a hybrid contractor and housebuilder and, last December, to branch out into private residential development, taking advantage of pent-up demand and future maintenance work.
A number of other Willmott Dixon divisions have also reported their figures for 2010. These include contracting division Willmott Dixon Housing, which reported growth of 2% to £202m, and the Willmott Dixon Construction division, which is down 3% to £661.4m. The company declined to comment on the figures until group results are announced next month.
Group turnover for the business is yet to be announced.
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