Countryside has signed a lease for a 130,000 sq ft factory in Warrington. The equipment to fit it out is due to be delivered in the second half of the year.
Once operational the new factory will service the company’s northern and West Midlands regions with a capacity of approximately 1,500 units a year. The company is investing more than £5m in the venture.
This factory is in addition to the Westframe timber frame factory in Leicester that it acquired as part of its £135m takeover of Westleigh last month. Further investment is also planned here, Countryside said.
The plans were revealed as Countryside reported half-year revenue growth of 14% to £398.8m (2017 H1: £351.1m) from 1,655 completions (2017 H1: 1,437 units). Pre-tax profit for the six months to 31st March 2018 was £73.7m (2017 H1: £60.3m).
Chief executive Ian Sutcliffe said: "We continue to deliver our strong organic growth trajectory with robust trading in all regions. We enter the second half in great shape and our acquisition of Westleigh will further increase our momentum by expanding our geographic reach and mixed tenure delivery. With continued strong growth in Partnerships and improved efficiency and returns in the Housebuilding division we remain confident of maintaining our sector leading growth over the medium-term."