Residential contractor United Living Group, which has a regional office in Altrincham, has reported a turnover of £243m and a profit after tax of £2.1m, following the official launch of the company in April this year.
The results are for the 12 month period to March 2015.
United Living was created in September 2014 through the merger of Bullock Construction and United House. It specialises in new-build homes, planned maintenance, low carbon retrofit, extra care and land and funding.
The group said that it was targeting a turnover of £500m within five years, and is working on projects in Fazakerley in Liverpool, and at Nesfield Road, Bideford Road and Daine Avenue in Wythenshawe, Manchester.
The pipeline for 2015/16 is worth more than £230m, made up of a wide range of mixed-use developments across the UK.
The group recently boosted its management team with the appointment of Peter Carey from ISG as chief financial officer, and Anne Newman as people services director, having previously worked with Wates.
Ian Burnett, chief executive of United Living, said: “Our performance over the past year has been a huge accomplishment, especially given the well documented challenges that have faced the wider market. Under our renewed leadership and through the efforts of United Living staff across the region and the country, we’ve listened to our customers and reacted by reviewing and diversifying our business model. I’m pleased to see the result of this has been that the newly formed Group has returned to profitability.
“United Living continues to deliver a high quality of service. We have an exceptionally strong order book already this year, into 2017 and beyond, and importantly, we’re also responding to the changes that are happening in this sector. We understand there is a housing shortage and we are continuing to adapt to the changes with a greater emphasis on the growing need for high quality open market and market rental homes.”