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United Living targets £500m turnover

17 Aug 15 Newly formed United Living Group has reported a healthy first set of financial results.

United Living Group was formed from the September 2014 merger of social housing contractors Bullock Construction and United House and was officially launched in April 2015.

For the 12 months ending 31st March 2015 the new company has reported a turnover of £243m and a profit after tax of £2.1m.

United Living North Ltd (formerly Bullock Construction) returned a profit of £600,000 for the year; United Living South Ltd (formerly United House) made £1.6m for a 15-month accounting period from January 2014 to March 2015.

United Living Group is aiming to double its turnover to £500m by 2020.

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In pursuit of this, it has this year brought in Peter Carey, previously of ISG, as chief financial officer and Anne Newman, from Wates, as ‘people services’ director.

Chief executive Ian Burnett said: “Our performance over the past year has been a huge accomplishment, especially given the well documented challenges that have faced the wider market.  Under our renewed leadership and through the efforts of United Living staff across the country, we’ve listened to our customers and reacted by reviewing and diversifying our business model.  I’m pleased to see the result of this has been that the newly formed group has returned to profitability. 

“United Living continues to deliver a high quality of service.  We have an exceptionally strong order book already this year, into 2017 and beyond, and importantly, we’re also responding to the changes that are happening in this sector.   We understand there is a housing shortage and we are continuing to adapt to the changes with a greater emphasis on the growing need for high quality open market and market rental homes.

“We are now determined to become the UK’s leading provider of refurbished and new build living solutions and our geographical growth is opening up new opportunities. We continue to find innovative funding solutions that can meet local needs and provide more homes. By diversifying the businesses we’re also better placed to address energy efficiency challenges, tackle fuel poverty, and invest in apprenticeships, training and the ongoing development of our staff.”

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