Following an equity raise in December 2013 to fund land acquisition, it saw three-fold growth in the first half of 2014.
For the six months to 30th June 2014 Mar City had revenues of £25.5m, up from just £8.7m for the first half of 2013. Underlying operating profit was £3.4m, up from £1.1m, while pre-tax profit was £2.6m (2013 H1: £1.1m).
Mar City has acquired a further 1,215 plots across London and the Midlands in the first half, adding to the 512 plots secured in December 2013. The target is to create a land bank of at least 5,000 units by the end of the current year.