Churchill Retirement Living has launched a three-year £500m land acquisition and development programme.
The move came as it announced its 2012/13 results, with turnover up by 12.7 per cent to £61.3m and profit before tax at £12.2, an increase from £7.3m in 2011/12.
Churchill has bought 18 sites over the year, completed nine developments and secured planning permission for 13 more, with another 16 applications currently awaiting a decision.
The company increased its staff numbers from 255 to 306, opened a new office in St Albans and extended its Ringwood head office.
Chairman and group managing director Spencer McCarthy said: “2012 was a good year for Churchill Retirement Living, with an increase in the number of land deals signed and planning permissions granted, which has translated into a solid profit.
“Our robust financial position and the size of our development portfolio mean we are well placed to grow our market share and we are aiming to invest £500m over the course of the next three years in acquiring and developing new sites.”