M&J Evans lifts profits as eastward regional push pays off

The Midlands-based housing specialist posted pre-tax revenue of £3.8m for the yr to December 2024, up from £2.2m, whereas turnover edged down 3% to £323m.

Working revenue rose 31% to £5.1m as tight price management offset softer volumes throughout the housing sector.

The group’s order ebook climbed 13% to £504m, supported by stronger tender conversion charges of 25.3%. Internet belongings have been as much as £52.3m and money rose to £25.2m after a refinancing added £9m in additional liquidity and pushed out debt maturities by 4 years.

The launch of an Jap Counties area was described as a “specific success”, contributing £17.8m of orders in its first yr and set to hit £20m turnover in its first full yr of buying and selling.

Chief govt Chris Southgate mentioned: “Regardless of ongoing challenges within the UK housing market, FY24 was a yr of sturdy monetary and operational progress for M&J Evans, backed by tight price management.

“The launch of our Jap Counties area has been a specific success, contributing meaningfully to our order ebook in its first yr and validating our give attention to driving regional progress. “

Wanting forward, Evans expects stabilising rates of interest, reinstated authorities housing targets and enhancing gross sales by home builders to translate into greater website exercise in 2025.