Property sales helped revenue at Mark Stott's Vita Group jump by more than £300m during its latest financial year, it has been revealed.
The Alderley Edge-headquartered group has posted a revenue of £385.3m for 2021 compared to the £70.5m it reported in 2020.
During the year, the group made £347.8m in property sales, up from £37.4m in the prior 12 months.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
Newly-filed accounts with Companies House also show the group made a pre-tax profit of £25.8m after falling to a £1.9m loss in 2020.
The group has offices in Barcelona, Dubai, Shanghai and Hong Kong while its Its brands include Vita Student, Vita Living, Affinity Living, House of Social, Union and Symphony Park.
It was founded in 2013 by Mark Stott, who also owns Stockport County.
During the year the group sold four of its student residences, completed its first Vita Student development in London and finished the construction of the three remaining Affinity Living apartment schemes.
The group's joint venture residential apartment development was also completed during the year.
According to the newly-filed accounts, the number of people employed by the group increased from 349 to 410.
Chief financial officer Mick Slater said: "Vita Group has had an incredible year; this can be seen through our strong increase in turnover and pre-tax profits and has been buoyed on by the £165m institutional deal with Mapletree for the sale of four of our Vita Student assets.
"The business has also fared the pandemic well, students have returned to higher education in record numbers, this has resulted in outstanding occupancy levels across the platform with buildings let faster than previous years and achieving better revenue as a result, helping to demonstrate how robust and resilient the Vita Student brand and student accommodation is.
"Vita Group also successfully added new beds to the platform, this included the launch of Vita Living North at Circle Square with 417 luxury apartments and a new Vita Student residence with 758 apartments."
A statement signed off by the board said: "Bookings for the 2022/23 academic year and occupancy in our residences are strong and therefore the directors are confident that the group is well positioned to grow revenues and profitability.
"The directors expect the group to make profits in the future as developments under construction and planned developments complete and are sld.
"Seven additional Vita Student developments are scheduled for completion within the next two years, as well as two residential developments.
"Further developments are in the pipeline for each of the group's brands."
READ NEXT:
Hundreds of jobs to be created by game art studio used by Disney, EA, Microsoft and Sony
Four-day week pilot: Boss reveals the seven key things he's learnt so far
Chopstix to create 500 jobs with 25 new locations across North West and Wales
Arena giant looking to rebuild after cutting almost 1,000 jobs during pandemic
