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United House reports record revenues

United House reported “another year of record revenue levels” this morning after a “very strong year” for its construction division.

Revenue for the year to 31 December 2011 was £239 million (2010: £201m) with profit before tax almost doubling to £15.3m (2010: £8.7m).

Highlights across the business were the success of the construction division, with revenue growth to £157m (2010: £143m).

A new Major Projects Division has been launched as the group focuses more on complex, mixed use schemes.

Development revenue grew 58 per cent to £98m.

Jeffrey Adams, group chief executive, said: “We have been quick to adapt to the changing needs of our customers, such as our successful Public Private Partnerships with Lambeth and the City of London where we are delivering homes and community facilities at zero cost.

“The group’s financial stability gives clients the confidence to know that they are working with a secure responsible partner, who is here for the long term. We expect that market conditions will remain challenging but we will continue to build on our 2011 successes in 2012.

“There is increasing focus on value, reliability and stability, values which are the cornerstone of United House’s culture.”

The company put the success down to “longstanding relationships with local authorities, housing associations and the private sector, “together with its reputation for quality, continue to provide new opportunities”.

United House has a secure order pipeline of £400m and an opportunity pipeline of £3 billion.

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