Private housing completions drive Mount Anvil revenue, but profit falls

Revenue from selling completed homes in developments in east and west London have boosted turnover at Mount Anvil Group, but pre-tax profit fell 37 per cent.

The London housebuilder posted turnover for the 15 months ended 31 March 2025 at £359.7m, compared with £257.8m in the 12 months to the end of December 2023.

The company, which was ranked 92nd in the 2024 CN100, has changed its financial reporting year to 31 March, bringing it in line with its joint venture partners, which include the capital’s largest housing associations and local councils.

The turnover figure was comprised of a £113.5m share of joint venture developments, £227.6m from contracting and construction revenues and £18.5m from property development income. All of which resulted in a pre-tax profit of £10.6m for the 15-month period, which was down from £16.9m in the 12 months ended 31 December 2023.

Nonetheless, Mount Anvil reported a stronger cash position at the end of March this year at £48.9m, compared with the end of December 2023 at £45.2m.

Mount Anvil noted that the group’s turnover derived in no small part from the sale of homes at its £460m Verdean development in Acton in west London and at Royal Eden Docks, just to the east of Canary Wharf in east London.

“Our results for the year have been driven largely by 190 private home completions at our Royal Eden Docks scheme, being developed in joint venture with London International Exhibition Centre (LIEC) and 160 private home completions at our Verdean scheme, which is being developed in joint venture with Peabody,” the company said in its accounts.

In July this year, Mount Anvil submitted plans to build 274 homes on a brownfield site on Lots Road South in Chelsea in partnership with Kensington and Chelsea Council. The plans provide for almost half the development to be affordable housing.

The average selling price of Mount Anvil’s private homes was £592,000 in the 15-month period, up from £553,000 during 2023, in what the company described as a “difficult sales market”.

“As the market has demonstrated in the last three years, build cost inflation is not necessarily covered by sales price inflation,” the company added. “A key strength of the group is our ability to collaborate with a wide range of stakeholders and offset a large element of build inflation through optimisation of our schemes.”

By early July this year, Mount Anvil had already exchanged 95 per cent of its 2025/2026 sales completions and 89 per cent of the sales target across its five-year plan.

Its staff costs increased to £31m from £24.3m but its number of employees dropped slightly from 210 to 207.