Allison Homes increases turnover 30% and halves losses as it shifts into partnerships

Allison Homes has reported a 30% increase in turnover as it hailed its move into more “stable” partnerships housing.

The Peterborough-based housebuilder, in its results for the 12 months to 30 September, reported turnover of £211.9m, up from £163.2m the year before.

It reported a pre-tax loss of £2.2m, nearly half the £4.3m loss it recorded for the previous year.

The firm said the increase in turnover was a “result of the continued growth in the group’s partnerships sales”. It launched Allison Partnerships in 2023.

The group completed 808 homes in the year, up from 626 the previous year. Nearly two-thirds of its completions (509) were delivered through its partnerships division, comprising affordable homes and properties forward sold to social housing providers.

The group’s income from open market sales increased by £22m, while its revenue from partnerships and affordable housing rose by £19m.

It said: “The wider economic environment remains tough, however, reductions in interest rates during the year had a positive impact on sales.

“The focus on partnership sales provides a much more reliable revenue stream , particularly in times where the housing market is slow.”

Its operating profit, which excludes net interest costs of £10.5m, increased from £2.8m to £6.9m.

In December, Allison Homes secured a £165 million financing deal with HSBC, NatWest and Homes England. The group also sold its for-profit registered provider of social housing, Swift Homes, in the year.