London-headquartered property developer, Mount Anvil, has returned a solid balance sheet despite a dip in profits.
Turnover for the year ended 31 December 2023 was £144.1 million, down from £167.5 million achieved in the previous financial period, generating a pre-tax profit of £2.4 million (FY2022: £3.7 million).
The business reported operating profit last year of £2.5 million, down slightly from the £3.7 million recorded in the prior year.
At the year end, Mount Anvil’s balance sheet had net assets worth £33.3 million, building on the £28.2 million recorded the year before, with healthy cash reserves too of £14.8 million (FY2022: £15.8 million).
“Long-standing and strong working relationships with our partners and supply chain have allowed us to achieve this and leave us well positioned to capitalise on new opportunities,” said Mount Anvil.
The company acts as the main contractor on residential development schemes undertaken by Mount Anvil group and its joint ventures.
“[Mount Anvil’s] ethos of listening to its clients and reacting to their needs has been at the centre of our approach, allowing the company to consistently provide high-quality and innovative design solutions,” it said.
Mount Anvil directors did not recommend the payment of an ordinary dividend (FY2022: £Nil).
The business posted profit for the year of £2.7 million, compared to £3.7 million delivered the year prior.
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