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Housing Today
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Churchill sees profit squeezed as turnover soars
Retirement housebuilder blames materials and labour increases plus building regs changes for margin fall
Retirement housebuilder Churchill has seen its pre-tax profit fall despite rapid growth in sales, as it was hit by changes to building regulations and build cost increases.
Privately-owned Churchill Retirement Living Plc reported pre-tax profit for the year to June 2022 of £34.6m, down 11%, in its audited annual accounts. Turnover leapt by 25% to £200m.
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