St Modwen Houses made a pre-tax lack of £213m within the 16 months to 30 April 2025, it has published.
In its remaining set accounts, the housebuilder, which was once got by way of Miller Houses in February remaining 12 months, posted a turnover of £285m within the length, up from £239m for the former one year.
It made a pre-tax lack of £213m in comparison to a lack of £22.5m for 2023 and an running lack of £211m in comparison to a £20m loss remaining time.
The crowd incurred a £175m outstanding price because of inventory and tasks being valued at lower than ebook worth when the crowd’s belongings have been transferred over to Miller on the finish of April remaining 12 months.
St Modwen mentioned this was once because of “low embedded margin within the owned land financial institution”.
The company finished 890 properties within the 16 months, up from 778 within the earlier 12-month length.
In an replace remaining month, Miller Houses mentioned it larger its pre-tax benefit by way of 75% following the purchase of St Modwen. It mentioned the upward thrust was once pushed by way of a 29% build up in completions following the purchase.
St Modwen positioned 86th in Construction’s 2025 Most sensible 150 Contractors & Housebuilders listing, which ranks companies by way of turnover.
