Landmark announces record profit
Bolton-based Landmark Investments Group produced a pre-tax profit of more than £3.6m in 2016, a 24% increase on its previous record year in 2015.
Mark Hawthorn, group chief executive, Landmark Investments Group, said: “As an investment company we take a long-term view with a focus on longevity and strategy over short-term profits. These results are a direct validation of this approach and a result of many years of prior investment coming to maturity. The portfolio is exceptionally robust, continues to grow at a pace and we have substantial funds available to underpin our ambitions going forward.”
Highlights of the year included 58% growth in rent roll under management, an increase in the investment portfolio to £35m, targeted £50m by the end of this year and an insurance portfolio valued above £750m and forecast to exceed £1bn in 2017.
Andrew Savage, finance director, Landmark Investments Group, said: “The primary focus of the group is residential and commercial ground rent investment. We conservatively estimate there to be well in excess of £600m of new opportunities coming to market each year. The group is well positioned both financially and operationally to respond swiftly in what is a complex and constantly evolving market. We remain on target with our objectives and fully expect 2017 to comfortably surpass 2016.”