<p>TopHat Communities, a subsidiary of modular housebuilder TopHat, posted a £5.1 million loss for the business for 2022, although turnover rose from £7.1 million during the previous year to £13.4 million.</p> <p><span>The TopHat subsidiary reported the loss for the financial year ending October 31 2022, following a pre-tax profit of £7.8 million in 2021. It said the profit achieved the previous year was due to a reversal of a provision made in FY2020 for losses on contracts.</span></p><p></p> <p><span>The Derby-based modular company still called FY22 a “strong year” in which it doubled its production “despite global supply challenges on key materials in the early part of the financial year”.</span></p><p></p> <p><span>TopHat is continuing to prepare its second factory in Corby, Northamptonshire - a 650,000 sq ft facility - with its construction “proceeding to plan” and development of the robotics systems “progressing well”.</span></p><p></p> <p><span>The business said it was aiming to increase its output against FY2022, “notwithstanding market headwinds”. Aiming to </span><span>manufacture and distribute</span><span> </span><span>more than</span><span> 4,500 homes a year, it is currently operating from a 125,000 sq ft factory near Derby </span><span>with</span><span> a capacity for 800 homes per annum.</span></p><p></p> <p><span>In its results, it acknowledged the group was “not yet profitable or cash generative”, …