United Living reports record results
United Living, the maintenance and new housing specialist, announces record annual financial results.
Turnover for 2018-2019 (April to March) is up 15% on the previous year at £275 million (£240 million in 2017-18), while profits (EBITDA) rose by 8% to £11.5 million (£10.7 million in 2017-2018). Cash balances have increased from £20.6 million to £33.3 million.
The business has a secured forward order book exceeding £1 billion.
United Living is a significant provider of new, affordable housing and the refurbishment of existing stock. The business has won one of the largest repairs and maintenance contracts with Clarion Housing Group, alongside ongoing work with CityWest Homes to refurbish its assets in Westminster and a long-term partnership with Wolverhampton Homes.
During the year, a new venture - United City Living – was successfully established to support the demands and the opportunities of the private rented sector (PRS).
United Living also became part of the Government’s National Developer Partner Panel in all regions and has been appointed to a number of other key frameworks.
In June 2019, post the period end, United Living merged with utilities and property services business, Fastflow Group, to create a c.£500 million plus turnover operation employing around 1,100 people.
Neil Armstrong, Chief Executive of the merged business said: “We are delighted with the continued sustainable growth of United Living, which is a testament to the hard work and commitment of all of our people. The enlarged group will provide more opportunities for further progress.”
This was posted in Bdaily's Members' News section by Paul Dobbie .
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