Inland Homes enjoys strong growth

Inland Homes’ net asset value increased by 13.2% to £233.9m in the 15 months to the end of September. NAV per share also increased to 113.60p, compared to 102.28p at the end of June 2018. The housebuilder also reported an increase in pretax profit to £25m, from £19.3m in 12 months to the end of June in 2018, while revenue nudged up slightly from £147.4m to £147.9m. Net debt stood at £152.3m at the end of September, which Inland Homes said was due to the increase in its landbank and work in progress. The firm expects this to fall as a number of realisations are achieved. The gross development value of Inland Homes’ landbank stands at £2.4bn, having grown from 6,870 plots to 7,796 plots, of which 2,956 have planning consent. Stephen Wicks, chief executive at Inland Homes, said: “This has been a period of major progress, with strong momentum across the group. We now have our largest ever landbank, controlling more plots with planning permission than at any other time, as well as seeing a continued expansion in the number of homes and partnership homes we are building.” To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette