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News » UK » Larkfleet in expansion mode » published 16 Aug 2017

Larkfleet in expansion mode

Lincolnshire house-builder Larkfleet Homes has seen a 63% leap in turnover in the past year and is maintaining its growth trajectory.

Larkfleet Homes chief executive Karl Hick Above: Larkfleet Homes chief executive Karl Hick

Larkfleet Homes has published record operating and financial results for the year ending 30th June 2017. Pre-tax profit reached £13.9m, more than double the previous year's £6.3m. Turnover was almost £80m, up from £49m the previous year, from the completion of 399 homes, an 83% increase on the previous year.

Larkfleet Homes is owned principally by chief executive Karl Hick and joint managing director Helen Hick. It has two major brands – Larkfleet Homes, which builds timber-framed homes, and Allison Homes, which builds traditional brick and block constructed homes.

While the core of its activity is in Peterborough, Lincolnshire, Cambridgeshire, Northamptonshire and Rutland, it has recently launched subsidiaries in Scotland, the southwest of England and East Anglia.

The new southwest England operation sold 20 homes last year and is on course to sell more than twice that number this year, the company said. Other parts of the company are also expected to substantially increase sales.

Larkfleet recently secured a £35m loan from Cheyne Capital Management to finance its expansion plans.

Karl Hick said: “The house-building industry has been through some difficult years recently. However, I am pleased to say that Larkfleet weathered the storms of the recession and we are rapidly expanding our activities. We are now building more houses on more sites than ever before.”

 

 

MPU

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This article was published on 16 Aug 2017 (last updated on 21 Aug 2017).

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