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Social success for Keepmoat

Social housing contractor Keepmoat has posted record results for the fifth year running thanks to the Government's commitment to deliver sustainable communities.
Turnover for the year ending March 2005 was up 38 per cent to £334.7 million with pre-tax profits of £33.1 million.

The group's affordable homes for sale market through operating company Haslam Homes produced a pre-tax profit of £21.5 million on a turnover of £87.7 million, a margin of 24.5 per cent.

Turnover grew to £238.4 million in the contracting-partnering business with a margin of 4.9 per cent, equating to a pre-tax profit of £11.7 million.

Chairman Dick Watson said: 'The social housing market is a strong market to be in as the Government continues to focus on building sustainable communities with a budget of £22 billion set aside. Nationally, it is expected to keep growing at 20 per cent a year and we intend to continue growing at the same rate.

'As a company, we are passionately committed to Community Regeneration. We believe that first time buyers should be able to get a first step on the housing ladder so we ensure we produce affordable homes. Our average selling price was £107,000 last year. We are also one of the first companies in the country to launch a range of £60,000 houses in Grimethorpe, South Yorkshire, following the challenge laid down by Deputy Prime Minister John Prescott.

'By mixing housing-for-sale together with improved social housing we are able to transform run-down areas into vibrant and inviting places to live, with positive effects on entire communities.'

The contracting-partnering side of the business which is carried out by Bramall Construction and Frank Haslam Milan last year refurbished over 30,000 homes.

Mr Watson said: 'Currently we are taking on about 500 new staff a year and we aim to be the employer of choice. We have our own virtual training academy and everyone is encouraged to continue training. Our future is indeed bright. Our forward order book for partnerships and partnering arrangements now stands at over £2 billion, double a year ago, and quadruple the year before that.'

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