Margin has more than doubled at United Living as the firm posted increased profit, despite seeing revenue decline in its latest results.
The company recorded EBITDA (earnings before interest, taxes, depreciation and amortisation) of £9.5m for the year to 31 March 2017, up from £5.1m the previous 12 months.
United Living’s EBITDA margin for the year rose from 2.3 per cent to 5.3 per cent, with revenue declining 18 per cent from £221m to £181m over the same period.
The group attributed its performance to a strong customer base driving growth in repeat business, with the company’s secured forward order book hitting £720m.
United Living chief executive Ian Burnett (pictured) said: “We had set ourselves a 2020 target to increase our EBITDA [margin] to 5 per cent and we have already exceeded this which is outstanding.
“It is testament to the innovative way in which we work and the value that we continue to add for our clients across the UK.
“We are forecasting growth to £250m for 2017/18 and have already secured more than £230m of this.”
Earlier this week, United Living was announced as one of the contractors appointed onto the HCA’s £8bn delivery partner panel 3 framework.
The contractor was one of 20 companies to scoop places on all five lots of the four-year of the framework.
Those companies are: Beaumont Morgan Developments; Bellway; Clarion Housing Group; Countryside; Galliford Try; Interserve; Keepmoat; Kier; Laing O’Rourke; Legal & General Homes; Lovell; Mears; Places for People; Redrow; Sanctuary Housing Association; Taylor Wimpey; United Living; Urban Splash; Wates; and Willmott Dixon.