Record performance for Peterborough housebuilder

Karl Hick, chief executive of Larkfleet Homes.
Karl Hick, chief executive of Larkfleet Homes.
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Housebuilder Larkfleet Homes has enjoyed a record year.

New figures from the Bourne and Peterborough-based company show its best operating and financial results for its most recent financial year.

In the 12 months to the end of June, the company built 399 homes, an 83 per cent increase on the previous year.

Financial turnover was almost £80 million for the year, up from £49 million in 2016.

Chief executive Karl Hick said: ““The house building industry has been through some difficult years recently.

“However, I am pleased to say that Larkfleet weathered the storms of the recession and we are rapidly expanding our activities.

“We are now building more houses on more sites than ever before.

“In all the places where we are active we are delivering high quality and energy-efficient new homes that will enable people to ‘get a foot on the property ladder’ and help to tackle the nation’s housing crisis.”

Larkfleet Homes has two major brands – Larkfleet Homes which builds timber-framed homes and Allison Homes which builds traditional ‘brick and block’ constructed homes. Its core activity is in Peterborough, Lincolnshire, and Cambridgeshire

The company is forecasting even stronger results for the current year.

Its new South West England operation, which sold 20 homes last year, is confident that it will sell more than twice that number this year.

Other parts of the company are also expected to substantially increase sales.

Larkfleet recently secured a £35 million loan from Cheyne Capital Management to finance its expansion plans.

The loan will enable Larkfleet to expand the company’s operations and invest in existing and new sites.