Profits surge for Renaker Build
The high-rise residential specialist has reported that sales climbed to £280m and pre-tax profit to £9.7m in 2025.
In newly filed full year results covering the calendar year, Renaker Build – which delivers construction projects for Renaker itself and other parties – said that “the two markets in which we operate – Manchester and Salford – continue to demonstrate enviable performance within the UK despite national and global economic headwinds”.
Renaker said that 2025 saw the firm celebrate a record number of projects reach completion and handover, with 1,414 apartments, 576 student bedspaces and 806 co-living units delivered as planned and on programme.
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No new contract starts took place during 2025, but since the year’s end starts on site have been made at Parkside, Greengate and Plot 9B at First Street, the firm said.
Contributors to the contractor’s 2025 turnover stem partly from completions at T2 Union Living and House of Social, both for Vita, and at Greengate Bankside.
In addition, ongoing contract delivery took place at Vista River Gardens, One Port Street for Select (now completed), Renaker’s own Contour building and its Great Jackson Street neighbour the F1 plot – bought by L&GM Nest and PGGM last March – along with Trinity Heights, which topped out in January.
Turnover increased by 5.6% to £280m, and the net profit margin was 3.4% for the period. Gross profit went from £16.4m in 2024 to £21m in 2025, with pre-tax profit climbing from £6.3m to £9.7m.
The directors’ statement notes the resignation of Daren Whitaker, Renaker’s founder and long-term figurehead, in November last year, a time when Whitaker also stepped back from a number of other Renaker company directorships amid reports of a move to Monaco.
Finance director Andrew Floyd signed the directors’ report on behalf of the board.
Good to see profits surge (I’d question that phrase) when margins are so thin. Not a lot of headroom.
By TJL
Nice to see they’re doing so well, all those viability reports had me very worried
By Almoravid
Hopefully they can afford to use a new architecture firm now…
By Anonymous
It would be interesting to know how much of those profits were contributed by them carrying out construction work for 3rd party developers as opposed to Renaker group companies.
By Razzle Dazzle
3.5% margin for work which is ridiculously risky – I’m glad they do what they do for Manchester and long may it continue, especially at a moment in time where development appraisals simply do not stack up.
By Old Faithful
… And yet their affordable home free skyscrapers still aren’t affordable without government backed loan money eh.
Unlike Liverpool, where better quality is about to be built with 100% private cash.
By John
April 13 @. 6.34pm – with construction costs looking as if they are going higher and the cost of finance already challenging I would not be so smug. I suspect Mayor Rotherham will have to splash some cash to get these schemes built – the city region will be replicating the GM Housing Investment Fund scheme in some form albeit 12 years after GM started theirs!
By Anonymous
Why did Renaker need the £800 million in public funding, via GMCA, when it’s making that kind of profit?
By Anonymous
£9m on £280m of sales, that’s only an attractive return if you are carrying a lot of leverage, no margin of error there.
By Rich X
@ Anonymous 11:13
Worth noting Renaker Build are the contracting arm of Renaker the developer. The GMCA funding would have gone to the developer (who incidentally do report higher margins than the 3.5% contracting margin).
By Anonymous