Inland revises pre-tax loss to £91 million

Jan. 26, 2023
<p>Inland Homes anticipates making a pre-tax loss of around £<span>91</span><span> </span><span>million for its financial year, up from an originally expected </span>£37.1 million loss as reported last September.</p> <p><span>Last Autumn, the business announced that, <a href="http://www.house-builder.co.uk/news/inland-ceo-retire-following-difficult-year/">due to unforeseen planning delays and contract challenges, it was likely to register a pre-tax loss for the year ending September 30 2022.</a> </span><span></span></p> <p><span>But since then, the economic outlook for UK housebuilding had “deteriorated”, the company stated, worsening the predicted loss. </span><span></span></p> <p><span>The business - a housebuilder, brownfield site developer and regeneration specialist – also cited an impact on its housebuilding margins from unforeseen costs, cost inflation and extended construction periods, “partly due to delays in delivery of materials and shortage of labour supply”.</span><span></span></p> <p><span>During its financial year, the group’s private home completions fell from the previous year’s 216 to 180 in aggregate, with their average selling price rising from 2021’s £262,000 to </span><span>£304,000</span><span>. Inland’s weekly net reservation rate per active sales outlet for the year was 0.89, down on the previous year’s 1.09.</span><span></span></p> <p><span>The group has also increased provisions on its five separate construction projects from £15.4 million to £28.8 million, following a review.</span><span></span></p> <p><span>The margins in its partnership housing division would continue to …

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