Keepmoat delivers resilient financial results

Revenue increased by more than 11 per cent in the year to 31 October 2023 to £864.6 million, compared to £778.1 million in the prior period, generating a pre-tax profit of £83.2 million (FY2022: £92.2 million).   

The home builder also posted adjusted EBITDA earnings of £101.4 million, an 11.3 per cent decrease on earning in FY2022.   

Keepmoat saw a nearly 8 per cent increase in homes sold in the period, posting a total of 4,074, compared to 3,776 the year before.  

Seven per cent of its employee headcount (1,112) were trainees and apprentices.  

Keepmoat has nine regional businesses, organised into the following three divisions: 

• North West, Yorkshire West and MCI developments 
• Scotland, North East, and Yorkshire East 
• West Midlands, East Midlands and South Midlands 

“The business has once again performed well, delivering a record number of new homes and a strong financial result against the backdrop of economic uncertainty which characterised much of the year,” said the company.   

“Keepmoat’s unique Partnership Business Model, underpinned by the multi-tenure offering and the attractiveness of the product, has once again proved its value, demonstrating that it allows the business to operate successfully and thrive in all market conditions.” 

Adding: “Keepmoat have continued to make careful investment in its operational capability and in land pipeline, where opportunities are fully aligned to our partnership multi-tenure business model. 

“Strong operational performance, financial position, resilient business model and focussed investment positions the business well against an uncertain economic backdrop to deliver continued controlled growth over the medium term.” 

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