Regeneration specialist developer Urban Splash has decided to rein in development amid fears over “lasting economic downturn”, despite seeing its pre-tax profit more than triple in its latest results.

Urban Splash Group Holdings Ltd reported turnover of £66.5m in the year to September 30 2021, up 68% on the previous year, producing a pre-tax profit of £6m, up from £1.66m in 2020.

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