Regeneration specialist ready to “unlock potential” despite £58.6m profit dip

Regeneration specialist U+I is confident about its future performance despite being impacted by a range of economic events.

The firm, which saw a loss before tax of £58.6m in the year ending March 31 2020, has attributed its performance to ‘significant’ market uncertainty caused by Brexit, the General Election and the COVID-19 pandemic.

Despite a challenging year, the company remains optimistic about future opportunities, with £10.8bn of mixed-use regeneration schemes in its pipeline.

Matthew Weiner, U+I chief executive, commented: “The last twelve months have been challenging, to say the least, and this is reflected in our results.

“However, the challenges of Covid-19 bring about real opportunities for companies like ours as they accelerate the structural need for inspiring, affordable, convenient mixed-use spaces where communities can thrive.

“Our size, agility and distinctive approach, combined with our efficient capital structure, give us confidence that we will deliver on our future targets.

“We are excited about the opportunities ahead for our business and remain focused on our purpose - to unlock potential for all through regeneration.”