Inland Homes's FY pretax profit slips lower

Inland Homes's FY pretax profit has slipped to £32.9m, from £34.0m. Revenue was £101.9m, from £114.2m.

EPRA net asset value per share was 86.63p at June 30, from 79.85p at Dec. 31, 2015.


"Despite the hysteria leading up to the referendum, the housing market has emerged relatively unscathed from the turmoil that surrounded the UK's decision to leave the EU, although it is still early days," the company said in a statment.

"However, the fact remains that there is a long term underlying demand for new homes particularly at the fairly low average price point that Inland operates at and on sites which are well located in Southern England."


"Demand for residential land in our well located portfolio from third party housebuilders is steady, with a number of new land sales agreed post year end.

"Inland Homes is continuing to extract maximum short term value from its land bank via income producing opportunities as well as the development of new commercial opportunities by virtue of its mixed use developments.

"Focused investment is being made in new personnel so that the Group is well resourced to deliver on its growth plans. Our staff headcount is now 53 compared with 31 at the date of signing the last Annual Report.

"We have a medium term target of achieving 500 home completions per annum and having repositioned the business to have less reliance on main contractors, are confident this will be achieved.

"The underlying net asset value of the Group has increased substantially year on year. Our small skilled team of professionals are focused on creating maximum value from our excellent and well located portfolio.

"Inland is on track to deliver further considerable growth for its shareholders. The fundamentals of the housing market, particularly at our low cost end of the sector, remain strong and are well supported by Government initiatives. We are very positive about our business model going forward."