Clowes Developments has reported a rise in revenue and profit in its latest annual accounts for the financial year ending 31 March 2022.
The Derbyshire-headquartered firm achieved a record breaking turnover of £119.8 million, up from £82.9m in the year prior.
Pre-tax profits meanwhile stood at £41m, growing from £22.3m.
The news comes after the firm’s acquisition of Derby County Football Club earlier this year. The directors of Clowes “consider that this is a medium-term investment to return the football club to stability and add significant value to the initial cost of circa £60m.”
Since 31 March 2022, the group has acquired four new sites along with the Pride Park Stadium, and sold a number of smaller completed new build commercial properties, sold two commercial land plots and agreed further pre-sales on six commercial units where building is about to commence or has already started.
Clowes says it continues to trade at increased levels compared to previous years due to the pre-sold commercial deals signed both during the year and since the year end.
Chairman of Clowes Developments, David Clowes, said: “Our latest figures tell an on-going and compelling story of robust financial management and cautious investment. Our buoyancy is testament to the hard work of our professional team and a vote of confidence from the market in our company’s ethos and commercial direction.”
