Over the last 18 months, Linden Homes has acquired more than £350m of land and last month reported a 23% jump in revenues for the year to 30 June 2011 of £388.5m, with an operating profit margin up from 5.6% to 8.1%
Linden Homes entered the new financial year with £247m of sales carried forward, also 23% up on last year. The level and value of sales achieved since the start of the year have been resilient, the company said, with sales reserved, contracted or completed now standing at £328m, up 25% compared to last year, with £254m for the current financial year.
Group managing director Ian Baker said: “We are taking a very positive position in the marketplace. We believe there are significant opportunities for a housebuilder like Linden Homes developing in London. Our South East division will be launching four new sites in London before Christmas, with several more sites already planned for 2012.”
Earlier this year, the company re-branded all its housebuilding brands under the Linden Homes banner – and opened new regional offices in Newcastle, Oxford and Guildford.
“We are currently the seventh largest housebuilder in the UK,” Mr Baker said, “and by this time next year, we will be building c.3,000 homes annually and on our way to becoming one of the top five housebuilders in the UK.”
Linden’s growth is backed by parent company Galliford Try Group, which itself is the fastest growing company in the FTSE construction and housebuilding sector.
Got a story? Email news@theconstructionindex.co.uk
