The private homebuilder, Strata has recorded end of year profits for the 1st July 2017. The company has already seen a double-digit growth for the second year in a row. Strata has delivered a total revenue of £128 million.

The housebuilding company’s previous full financial year ended on the 31st December 2015. The figures recorded during this period saw the company turnover rise by 30%, with profit before tax on the construction of residential property sales jumped from £11.1 million to £20 million. During this period the company managed to complete 605 homes across 20 sites with an average selling price of £212,000 in 12 months.

The growth of the company has been driven by the company acquiring a range of quality sites across a larger area across Yorkshire and the East Midlands. The development of quality schemes with house types that are suited for families and those who want to move up the property ladder. The larger developments, and houses designed as a step up the property ladder has led to an increase in the average selling price for the company.

The expansion in the areas for developments has helped to boost the business’ operational margin. Strata has also used this expansion to make the most of the favourable economic conditions in order to expand their reach. The housing market in Yorkshire and the East Midlands is considered to be resilient, and offers opportunities to develop houses that will lead to profit.

Strata also has a strong sustainable pipeline which consists of sustainable land and sites that have been negotiated on and contracted. This pipeline of stable future projects is also expected to improve the future growth of the company. The brand is expected to grow going forward with the help of a record forward selling position heading into the 2017/18 financial year. During next year, the company are expecting a 65% sales committed of the 700 house building plots forecast for this period.