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Wednesday, 03 September 2014

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Story Homes doubles profits

Cumbrian house builder Story Homes has doubled profits despite the recession.

Figures for the year to March show that it made £3.22 million before tax, up from £1.49m the year before.

Turnover increased by 31.7 per cent from £45.1m to £59.4m. The firm operates civil engineering, house building, railway maintenance and plant hire businesses.

The directors’ report says: “The group generated a healthy profit and has a strong balance sheet, which includes a significant land bank.

"It is therefore well placed to realise opportunities in the future and the directors anticipate an improved trading performance in the coming financial year.”

Staff employed by the group fell from an average of 408 in 2010-11 to 322.

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