Regional housebuilder Beal Homes has reported a “strong performance” for 2022, underlining confidence in navigating wider economic challenges.
The Hessle-headquartered company’s turnover is up 36 per cent from £52.8 million to £72.1 million - topping the pre-Covid high of £60 million - and while margins were squeezed, it remains focused on its ambition to build 400 homes a year. Completions were up almost 30 per cent from 224 to 291 in the calendar-aligned period, with the average sale price increasing from £217,764 to £283,858.
And while profits increased from £5.6 million to £6.8 million, the 21.7 per cent increase was a distance behind the top line uplift, underling the impact of cost increases.
