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Artisan plans property acquisition

Artisan is looking to expand in the property market either by its own organic growth or through an acquisition to capitalise on opportunities it has identified.
Addressing shareholders at its Annual General Meeting, Artisan said it has pursued a number of acquisition opportunities but has so far failed to find the right one.

Artisan also announced that it has restructured its management team with the appointment of a new chief executive Chris Musselle, who was previously financial director.

He takes over from Martyn Freeman who has stood down from the board. John Jones, managing director of its housing arm Rippon Homes, joins the board.

Outlook for the coming year is mixed, the company said. Artisan Developments continued to trade well but a drop in demand at Rippon Homes saw sales slip below current expectations.

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