Strong progress in 2019 for developer St Modwen
Developer St Modwen says it has delivered strong progress in its home, industrial and logistics businesses in 2019.
The group, which has its headquarters in Birmingham, continues to build new homes on part of the former Goodyear site, in Wolverhampton.
St. Modwen Homes saw sales of homes in the year rise 25 per cent to 1,060 and said it was on track to deliver further growth
It has more than doubled St Modwen Homes sales over the last three years and its future orders are up 33 per cent compared to this time last year.
Chief executive Mark Allan said: "Following the major re-positioning of our business through the successful disposal of over 40 per cent of our assets in the preceding 18 months, our focus in 2019 has been firmly on delivering the deep pipeline of opportunities in our existing portfolio."
He added that the company was confident that the continued delivery on this strategy would drive a meaningful improvement in return on capital and earnings over time.
