Monday, April 29, 2024

Clowes Developments reports record breaking turnover

Clowes Developments has reported a rise in revenue and profit in its latest annual accounts for the financial year ending 31 March 2022.

The Derbyshire-headquartered firm achieved a record breaking turnover of £119.8 million, up from £82.9m in the year prior.

Pre-tax profits meanwhile stood at £41m, growing from £22.3m.

The news comes after the firm’s acquisition of Derby County Football Club earlier this year. The directors of Clowes “consider that this is a medium-term investment to return the football club to stability and add significant value to the initial cost of circa £60m.”

Since 31 March 2022, the group has acquired four new sites along with the Pride Park Stadium, and sold a number of smaller completed new build commercial properties, sold two commercial land plots and agreed further pre-sales on six commercial units where building is about to commence or has already started.

Clowes says it continues to trade at increased levels compared to previous years due to the pre-sold commercial deals signed both during the year and since the year end.

Chairman of Clowes Developments, David Clowes, said: “Our latest figures tell an on-going and compelling story of robust financial management and cautious investment. Our buoyancy is testament to the hard work of our professional team and a vote of confidence from the market in our company’s ethos and commercial direction.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.









Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close