Family-run Campion Homes breaks £30m barrier for the first time
Fife-based Campion Homes has reported a record year of growth and profitability, with turnover doubling in its latest financial year to 30th June 2017 to £30m.
This is the first year the family-owned company has exceeded £30 million of sales and is a significant milestone for founder, Pete Bell, who recently passed the Managing Director role to his daughter and former Finance Director, Susan Jackson and long-standing employee and former Construction Director, Dougie Herd.
Despite continued costs and contract pricing pressures across both the social housing and private market, Campion Homes has continued to drive efficiencies across the business with operating profit increasing to £2.6 million.
During the year, Campion Homes launched two new developments at Hawthorn Bank, Dunfermline and at Law View in Leven. With development continuing at Laurel Bank Springfield, 163 homes are being constructed across these sites. In total across all sites 40 homes were legally completed during the year. The company also has a strong stream of Affordable Housing contracts with 291 homes under construction at the year-end.
Founder and now Executive Chairman Pete Bell said: “Campion Homes is in a very strong financial position with good performance across private and social housing divisions. Despite a competitive market environment, material price increases and economic uncertainty, the company has delivered a strong set of results.
“Furthermore, we have every confidence we can build on what has been an exceptional year. Our success can be attributed to robust relationships with trusted suppliers and customers and the dedication and hard work of our colleagues.”
Campion Homes recently announced details of a strengthened Executive Board with two new Board members – Ali Graham, Surveying Director who has 30 years’ experience as a Chartered Surveyor and Dave Simpson, Construction Director, a Chartered Builder also with over 30 years’ experience and previously Construction Manager at Persimmon Homes.
The restructure comes as the business gears up to achieve its target to build 700 new homes over the next five years.