Fife housebuilder Campion Homes has returned to profit amid a difficult time for the construction industry.
The Dunfermline company posted a pre-tax profit of £2.6 million to the end of June 2024, having recorded a loss of £865,000 the year before.
It comes as a number of north east housebuilders including Perthshire’s Hadden and Stewart Milne went bust, citing rising costs and market forces.
Turnover for the firm was just over £45m, up from £36m the year before.
The company’s headcount remained relatively stable too, with 141 on the payroll to the end of June this year.
Fife’s Campion Homes posts profit
The company is continuing its private housing developments at Oak Bank, Glenrothes and Strathearn Gait in Crieff.
Sales “remain steady”, the firm said, in what are challenging and competitive markets.
Campion Homes has also now launched a new 75 home development at Strathmore Meadows, Meigle.
And planning consent has been recently approved for 72 homes in Balcurvie, Fife.
Campion also completed the first handover of accessible homes at its Charleston development in Dundee.
This project will see 66 homes built, complete with state-of-the-art technology and design features.
Successful year
Pete Bell, Campion Homes executive chairman, said the firm’s “underlying financial strength and longevity” has helped it withstand the difficult trading conditions experienced by many companies in the sector recently.
He said: “As we expected, our financial year to June 2024 was a successful one, despite the backdrop of continued challenging market conditions.
“We were pleased to see positive improvements in consumer confidence during the second half of our financial year and our three private developments are returning positive results for the business.
“Our exceptional track record of working closely with a number of housing associations to deliver much needed new homes has continued this year and we were delighted to see our partnership with Kingdom Housing Association at Alloa recognised for two awards.
“As well as employing a skilled workforce we enjoy long term positive relationships with clients and subcontractors.
“As an independent family-run business we can afford to take a longer-term view and we look forward to continuing to make a significant contribution to the sector.
“This includes continuing to invest in our people and the local economy so we can deliver much needed homes.”
Pete Bell founded Campion Homes in 1989. The firm has built more than 3,200 homes since then.
The firm is now led by joint managing directors Dougie Herd and Susan Jackson.
Conversation