This Land Limited have released their Annual report and financial statements. These relate to the trading period ending 31st March 2021
David Lewis, This Land’s Acting Chief Executive Officer’s statement gives a positive overview of how the business has performed for the period.
David Lewis Acting CEO
‘It has been an exceptional period for This Land, a period during which the Company has been able to excel both financially and in terms of achieving many of its key business objectives. This ensures the Company is well on target to deliver much-needed housing across Cambridgeshire, including a significant proportion of new affordable homes.
Strong Financial Performance
In what has been a strong financial period, in which the financial statements show an annual turnover of £19m being achieved (2019: Nil) resulting in an Operating Profit before Interest on loans and Tax of £704,297 (see Note 6) (2019: Loss £11,764,149).
This follows a period of major investment where we have:
• Paid £8m in interest payments to our Shareholder
• Secured new land for development
• Invested in significant numbers of new planning applications across the region
• Met the costs of development work on new sites
This has resulted in the Company being in a strong cash position with £18m of funds available to take the Company forward over the next 12 months’.
The full report can be read here This Land Limited – Financial Report 2021