PRS push to boost United Living turnover to £275m

A push into the private rented sector is expected to boost turnover at United Living to £275m next year as the contractor posted record results.

Turnover for 2017-18 rose  33% to £240m from £181m while profits increased 13% to £10.7m from £9.5m.

United Living has a secured forward order book exceeding £800m with a further £175m in negotiation and is aiming for 5% margins.

Ian Burnett, chief executive 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.

“As the business continues to grow and diversify, I’m particularly proud that social value remains at its very heart, with our values and the wider benefits of training, local employment and community initiatives, remaining the driving force behind all of United Living’s projects.”

United Living works with registered housing providers, local authorities and private developers to source land and deliver high quality homes and refurbishment programmes.

In 2017-18 United Living built approximately 1000 new homes and refurbished more than 7,500 properties across the country.

from Construction Enquirer http://www.constructionenquirer.com/2018/06/26/prs-push-to-boost-united-living-turnover-to-275m/

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