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Fri November 16 2018

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United Living targets PRS market for continued growth

27 Jun Building contractor United Living has reported 33% growth in the past year and is planning a push into the private rented sector.

Chief executive Ian Burnett
Chief executive Ian Burnett

In the year to 31st March 2018 United Living generated turnover of £240m, up from £181m the previous year.

Earnings before interest, taxation, depreciation and amortisation (Ebitda) were up 13% to £10.7m (2017: £9.5m), while cash balances have jumped from £7.2m to £20.6m. The order book stands at £800m.

Further growth is planned, with the setting up of United City Living is a new venture focused on the private rented sector (PRS).

Recent contract awards for United Living include a repair and maintenance framework with CityWest Homes to refurbish its assets in Westminster. It also works for Wolverhampton Homes and Clarion Housing Group.

In 2017-18 United Living built approximately 1,000 new homes and refurbished more than 7,500 properties across the country.  The company works with registered housing providers, local authorities and private developers.

Chief executive Ian Burnett said: “United Living has developed a solid reputation for providing an excellent service in both new build and refurbishment contracts. This is reflected in our growing number of clients; their repeat business; and our financial performance which is strengthening year-on-year.

“We’re forecasting growth to £275m for 2018-19 and have already secured more than £260m of these contracts.  We expect this will be bolstered further by our move into the UK’s PRS market, which has been driven by the success we’ve seen working on a small number of private sector projects to date. The key however is to only work with customers who share similar values to ourselves. Our financial success comes from a stringent review of risk taking on projects and walking away from schemes when the balance is not acceptable.”

 United Living

31/03/2018

31/03/2017

31/03/2016

31/03/2015

Ebitda

£10.7m

£9.5m

£5m

£2.3m

Turnover

£240m

£181m

£221m

£124m

MPU

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