The Midlands-based housing specialist posted pre-tax profit of \u00a33.8m for the year to December 2024, up from \u00a32.2m, while turnover edged down 3% to \u00a3323m.<\/p>\n
Operating profit rose 31% to \u00a35.1m as tight cost control offset softer volumes across the housing sector.<\/p>\n
The group\u2019s order book climbed 13% to \u00a3504m, supported by stronger tender conversion rates of 25.3%. Net assets were up to \u00a352.3m and cash rose to \u00a325.2m after a refinancing added \u00a39m in extra liquidity and pushed out debt maturities by four years.<\/p>\n
The launch of an Eastern Counties region was described as a \u201cparticular success\u201d, contributing \u00a317.8m of orders in its first year and set to hit \u00a320m turnover in its first full year of trading.<\/p>\n
Chief executive Chris Southgate said: \u201cDespite ongoing challenges in the UK housing market, FY24 was a year of strong financial and operational progress for M&J Evans, backed by tight cost control.<\/p>\n
\u201cThe launch of our Eastern Counties region has been a particular success, contributing meaningfully to our order book in its first year and validating our focus on driving regional growth. \u201c<\/p>\n
Looking ahead, Evans expects stabilising interest rates, reinstated government housing targets and improving sales by house builders to translate into higher site activity in 2025.<\/p>\n
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