Beazer Housing back on track
Beazer Group, the UK’s third-largest housebuilder, is set to report it is back on track after experiencing a poor first half in which completions fell by 18%.
Next Wednesday’s final results are expected to have risen due to the company’s strong sales base, a large amount of land acquired for future development and a gearing ratio slightly lower than last year.
Pre-tax profits are expected to have risen by around 3% to £81m, up on last year’s pre-tax figure of £79m.
Additionally, the group’s average selling price has risen by 15% to £93,000.
The boost would be good news for finance director David Smith who has been group FD since last year. He was previously FD of the Beazer Homes division before being made a director of the board in 1995.
The Beazer Group completes around 7,700 homes a year. Its home construction divisions Beazer Homes and the more upmarket Charles Church Group build everything from one-bedroom terrace houses and apartments to five-bedroom homes. Subsidiary Partnership Homes builds social housing, and Torwood Homes makes timber frame units in Scotland. Beazer has been targeting markets in the South West, South East and North of England as well as the Midlands and Scotland.