11 March 2010
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27 January 2010
Morris Homes reports sales growth
Morris Homes, one of the country's largest privately owned housebuilders, has reported a 43 per cent increase in private reservations for the nine months to 31 December 2009.
In a sign of improving conditions in the housing market, the company re-opened seven mothballed sites during the period and a further six sites are expected to open before the end of March this year, bringing its total number of outlets back to in excess of 50 for the first time in three years.
The company has also stepped up the size of its labour force significantly over the last few months with around an additional 400 subcontractors being engaged in site activities.
In its last audited accounts for the year ended March 2009 the company posted an underlying operating profit of £21m on sales of £112m, sustaining a healthy operating margin of 19% in a challenging trading period.
Mike Gaskell, chief executive of Morris Homes, said: "Conditions improved significantly as we moved through last year. Our focus on building high quality family homes, and purchasing sites in areas of strong demand, has helped us to capitalise on this renewed confidence amongst homebuyers and achieve positive sales growth".
The company, which has regional divisions in the North West, East and West Midlands, remains active in the land market and has recently invested a total of £27m purchasing sites in Peterborough, Telford, Worcester, Melton Mowbray, Marple and St Helens.
It has also strengthened its reputation for developing energy efficient eco-homes after being selected as preferred developer by the Homes and Communities Agency (HCA) to deliver Cambridgeshire's first zero carbon village.
Other recent achievements include being voted the UK's best quality mainstream housebuilder in the Government-backed Home Purchaser Satisfaction survey and judged the best Volume Housebuilder in the Brick Awards 2009, which recognise quality in design and exceptional attention to detail.
Morris also won more NHBC Pride in the Job awards for its size than any other housebuilder for the fifth year in succession. The awards recognise on-site excellence and an overall commitment to building quality new homes.
Mike Gaskell continued: "We are well positioned to capitalise on further improved levels of buyer demand this year following an increase in build activity and our long-term strategy of building high quality family housing."
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In a sign of improving conditions in the housing market, the company re-opened seven mothballed sites during the period and a further six sites are expected to open before the end of March this year, bringing its total number of outlets back to in excess of 50 for the first time in three years.
The company has also stepped up the size of its labour force significantly over the last few months with around an additional 400 subcontractors being engaged in site activities.
In its last audited accounts for the year ended March 2009 the company posted an underlying operating profit of £21m on sales of £112m, sustaining a healthy operating margin of 19% in a challenging trading period.
Mike Gaskell, chief executive of Morris Homes, said: "Conditions improved significantly as we moved through last year. Our focus on building high quality family homes, and purchasing sites in areas of strong demand, has helped us to capitalise on this renewed confidence amongst homebuyers and achieve positive sales growth".
The company, which has regional divisions in the North West, East and West Midlands, remains active in the land market and has recently invested a total of £27m purchasing sites in Peterborough, Telford, Worcester, Melton Mowbray, Marple and St Helens.
It has also strengthened its reputation for developing energy efficient eco-homes after being selected as preferred developer by the Homes and Communities Agency (HCA) to deliver Cambridgeshire's first zero carbon village.
Other recent achievements include being voted the UK's best quality mainstream housebuilder in the Government-backed Home Purchaser Satisfaction survey and judged the best Volume Housebuilder in the Brick Awards 2009, which recognise quality in design and exceptional attention to detail.
Morris also won more NHBC Pride in the Job awards for its size than any other housebuilder for the fifth year in succession. The awards recognise on-site excellence and an overall commitment to building quality new homes.
Mike Gaskell continued: "We are well positioned to capitalise on further improved levels of buyer demand this year following an increase in build activity and our long-term strategy of building high quality family housing."
