Urban Splash posts rising profit in ‘difficult year’
Manchester-based regeneration company Urban Splash said it has posted “a solid performance in a difficult year” in its latest set of accounts.
The company, founded by Tom Bloxham, recorded an £8.5m profit before tax for the year ending September 2021, according to a statement, a year-on-year increase of 102%. The accounts have yet to be logged with Companies House.
Revenue of £66.5m was up from £39.4m in the prior reporting period. Net assets increased by £4m to £36.8m, and third-party debt was reduced by £9.6m to £59m.
Manchester-based regeneration company Urban Splash said it has posted “a solid performance in a difficult year” in its latest set of accounts.
The company, founded by Tom Bloxham, recorded an £8.5m profit before tax for the year ending September 2021, according to a statement, a year-on-year increase of 102%. The accounts have yet to be logged with Companies House.
Revenue of £66.5m was up from £39.4m in the prior reporting period. Net assets increased by £4m to £36.8m, and third-party debt was reduced by £9.6m to £59m.
The company’s commercial assets were revalued at £97.1m – an increase of £4.6m, reflecting an uplift of 48% on the previous year.
The company is now working through a development pipeline including sites in Plymouth, Milton Keynes, Swansea, Birmingham, Windermere, Sheffield and Manchester.
Earlier this year, a modular housing joint venture the company had established with Japanese group Sekisui was placed in administration.
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Photo: Park Hill, Sheffield © Urban Splash
