Turnover continues to build
TURNOVER for Huntingdon-based house-builder and business park developer Artisan (UK) plc soared to £41million in the 15 months to June 30, according to preliminary results. The company, which this year moved its year-end from March 31, had sales of £28.7
TURNOVER for Huntingdon-based house-builder and business park developer Artisan (UK) plc soared to £41million in the 15 months to June 30, according to preliminary results.
The company, which this year moved its year-end from March 31, had sales of £28.7million in 2005/06.
Operating profit remained steady at £3.7million, largely because of pressure on margins in house-building, but business park development performed strongly with record results. Artisan Developments (UK) Limited, the business park subsidiary contributed sales of £15.6million, compared with £9.7million in 2006, and operating profit of £2.4million (£1.6million in 2006).
Artisan's property investment arm, established earlier this year to retain let business park properties, contributed to the results for the first time.
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Chairman Michael Stevens said he was cautiously optimistic for the coming year.
Chief executive Chris Musselle, said: "The 15 months to June 30 have shown that the combination of residential and commercial operations has successfully balance profitability in the face of challenging residential market conditions."
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The company plans to move in December into offices it is building at Vantage Park off the A141 in Huntingdon.