<p>Inland Homes achieved “record” revenue in 2021 and an improvement in pre-tax profit but “depressed” margins due to unforeseen costs and other challenges.</p><p><span>Speaking to <i>Housebuilder </i>on the brownfield developer and housebuilder’s results for the year ending September 30 2021, Nish Malde, Inland’s group finance director, said the company’s revenue, climbing </span><span>46</span><span>% to </span><span>£181.7</span><span> million against 2020, was partly driven by the performance of its housebuilding and partnership housing divisions. </span></p><p><span>Housebuilding’s turnover grew to </span><span>£69.9</span><span> million from 2020’s </span><span>£23.8</span><span> million. In partnership housing, this increased </span><span>16.4% to £60.3 million, powered by increased demand from Build to Rent operators.</span></p><p><span>Inland’s pre-tax profit for its financial year rose to £13.2 million from 2020’s £3.4 million. But the gross profit margins of both housebuilding and partnership housing had been “unsatisfactory”. Inland incurred a £3.5 million unforeseen cost relating to a scheme, involving a civil engineering issue, Malde said. It also experienced cost inflation and extended construction periods.</span></p><p></p><p>“There have been a multitude of costs for a number of reasons that have led to margins being depressed,” Malde said. "We’re correcting those faults including improving our IT systems. But margins are now improving.” For 2021, Inland’s overall gross margin dipped to 17.6% against 2020’s 17.7%.</p><p>Private home sales …