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[{"DocumentName":"The Castings, Ravenscraig","DocumentUrlPath":"/the-castings-ravenscraig","Address":"Meadowhead Road, Ravenscraig, ML2 7UT"},{"DocumentName":"Baxterfield, Hill of Beath","DocumentUrlPath":"/baxterfield-hill-of-beath","Address":"Torbeith Gardens, Hill of Beath, Fife, KY4 8DX"},{"DocumentName":"Bucknall Grange, Stoke on Trent","DocumentUrlPath":"/bucknall-grange-stoke-on-trent","Address":"Eaves Lane, Bucknall, Stoke on Trent, ST2 8JY"},{"DocumentName":"Mill Brow, Speke","DocumentUrlPath":"/mill-brow-speke","Address":"Central Avenue, Speke, Liverpool, L24 0TL"},{"DocumentName":"The Parks Phase 5, Anfield","DocumentUrlPath":"/the-parks-phase-5-anfield","Address":"Glaisher Street, Anfield, Liverpool, L5 1AB"},{"DocumentName":"The Woodlands, Skelmersdale","DocumentUrlPath":"/the-woodlands-skelmersdale","Address":"The Woodlands, Skelmersdale, Lancashire, WN8 6QJ"},{"DocumentName":"Woodford Grange, Winsford","DocumentUrlPath":"/woodford-grange-winsford","Address":"Woodford Grange, Woodford Lane, Winsford, CW7 4EH"},{"DocumentName":"Cottonfields, Atherton","DocumentUrlPath":"/cottonfields-atherton","Address":"Gibfield Park Avenue, Atherton, M46 0SU"},{"DocumentName":"Lyndon Park, Great Harwood","DocumentUrlPath":"/lyndon-park-great-harwood","Address":"Harwood Lane, Great Harwood, BB6 7TB"},{"DocumentName":"Riverbank View at Charlestown, Salford","DocumentUrlPath":"/riverbank-view-at-charlestown-salford","Address":"Littleton Road, Salford, M6 6HX"},{"DocumentName":"Willow Park, Middleton","DocumentUrlPath":"/willow-park-middleton","Address":"Borrowdale Road, Middleton, Manchester, M24 5GG"},{"DocumentName":"Hampton Green, Coxhoe","DocumentUrlPath":"/hampton-green-coxhoe","Address":"Off St Marys Terrace, Coxhoe, County Durham, DH6 4JB"},{"DocumentName":"Byron Mews, Seaham","DocumentUrlPath":"/byron-mews-seaham","Address":"Off Heathway, Seaham, County Durham, SR7 7UX"},{"DocumentName":"Alexandra Gardens, Hull","DocumentUrlPath":"/alexandra-gardens-hull","Address":"Southcoates Lane, Hull, HU9 3UA"},{"DocumentName":"Amy Johnson, Hull","DocumentUrlPath":"/amy-johnson-hull","Address":"Hawthorn Avenue, Hull, HU3 5PY"},{"DocumentName":"Kingfields Park, Hull","DocumentUrlPath":"/kingfields-park-hull","Address":"Kesteven Way, Hull, HU7 3HJ"},{"DocumentName":"Capella, Scarborough","DocumentUrlPath":"/capella-scarborough","Address":"Off Westway, Scarborough, YO11 3ED"},{"DocumentName":"Ebor Chase, Malton, North Yorkshire","DocumentUrlPath":"/ebor-chase-norton","Address":"Langton Road, Malton, North Yorkshire, YO17 9PU"},{"DocumentName":"The Fell, Durham","DocumentUrlPath":"/the-fell-gibside","Address":"Chester-le-Street, Co. Durham, DH2 2TT"},{"DocumentName":"Willow Heights, Thurnscoe","DocumentUrlPath":"/willow-heights-thurnscoe","Address":"School Street, Thurnscoe, South Yorkshire, S63 0AW"},{"DocumentName":"Skylarks Grange, Doncaster","DocumentUrlPath":"/skylarks-grange-doncaster","Address":"Long Lands Lane, Doncaster, DN5 7XB"},{"DocumentName":"High Farm, Normanby","DocumentUrlPath":"/high-farm-normanby","Address":"Off Trunk Road, Normanby, Middlesbrough, TS6 0AA"},{"DocumentName":"The Springs, Doncaster","DocumentUrlPath":"/the-springs-doncaster","Address":"Campsall Road, Askern, Doncaster, DN6 0BT"},{"DocumentName":"Earlybraes, Barlanark","DocumentUrlPath":"/earlybraes-barlanark","Address":"Hallhill Road, Barlanark, Glasgow, G33 4QJ"},{"DocumentName":"Broomview, Edinburgh","DocumentUrlPath":"/broomview-edinburgh","Address":"Broomhouse Road, Edinburgh, EH11 3TP"},{"DocumentName":"Affinity, Leeds","DocumentUrlPath":"/affinity-leeds","Address":"South Parkway, Leeds, LS14 6ER"},{"DocumentName":"Aurora, Castleford","DocumentUrlPath":"/aurora-castleford","Address":"Premier Way, Castleford, WF10 5XR"},{"DocumentName":"Fusion, Leeds","DocumentUrlPath":"/fusion-leeds","Address":"Wykebeck Mount, Leeds, LS9 0HN"},{"DocumentName":"Elm Tree Park, Wakefield","DocumentUrlPath":"/elm-tree-park-wakefield","Address":"Milton Road, Wakefield, WF2 8AB"},{"DocumentName":"Heron's Reach, Bradford","DocumentUrlPath":"/herons-reach-bradford","Address":"Allerton Lane, Bradford, BD15 8HB"},{"DocumentName":"Timeless, Leeds","DocumentUrlPath":"/timeless-leeds","Address":"York Road, Leeds, LS14 6UH"},{"DocumentName":"Woodlands View, Bradford","DocumentUrlPath":"/woodlands-view-bradford","Address":"Stanley Road, Bradford, BD2 1AS"},{"DocumentName":"Academics, Peterborough","DocumentUrlPath":"/academics-peterborough","Address":"Poplar Avenue, Peterborough, PE1 4QF"},{"DocumentName":"Roman Fields, Peterborough","DocumentUrlPath":"/phase-2-at-roman-fields-peterborough","Address":"Manor Drive, Peterborough, PE4 7EB"},{"DocumentName":"The Scholars at Academics, Peterborough","DocumentUrlPath":"/the-scholars-peterborough","Address":"Poplar Avenue, Peterborough, PE1 4QF"},{"DocumentName":"Chase Farm, Gedling","DocumentUrlPath":"/chase-farm-gedling","Address":"Arnold Lane, Gedling, Nottingham, NG4 4HF"},{"DocumentName":"Hedgerows, Bolsover","DocumentUrlPath":"/hedgerows-bolsover","Address":"Mooracre Lane, Bolsover, S44 6ER"},{"DocumentName":"Meadow View, Shirebrook","DocumentUrlPath":"/meadow-view-shirebrook","Address":"Meadow Lane, Shirebrook, NG20 8RY"},{"DocumentName":"The Parade, Bridgwater","DocumentUrlPath":"/the-parade-bridgwater","Address":"Bristol Road, Bridgwater, Somerset, TA6 4BP"},{"DocumentName":"Spirit Quarters, Coventry","DocumentUrlPath":"/spirit-quarters-phase-4-coventry","Address":"Milverton Road, Coventry, CV2 1GS"},{"DocumentName":"The Paddocks, Lightmoor Village","DocumentUrlPath":"/the-paddocks-telford","Address":"Lightmoor Village, Telford, TF4 3FQ"},{"DocumentName":"Central Park, Darlington","DocumentUrlPath":"/central-park-darlington","Address":"Haughton Road, Darlington, DL1 1DR"},{"DocumentName":"Elder Gardens, Newton Aycliffe","DocumentUrlPath":"/elder-gardens-newton-aycliffe","Address":"Off Middridge Road, Newton Aycliffe, County Durham, DL5 7EL"},{"DocumentName":"Lyme Gardens Phase 2, Stoke On Trent","DocumentUrlPath":"/lyme-gardens-phase-2-stoke-on-trent","Address":"Commercial Road, Stoke on Trent, Staffordshire, ST1 3QP"},{"DocumentName":"The Mallards, Swanley","DocumentUrlPath":"/the-mallards-swanley","Address":"St. Mary's Road, Swanley, Kent, BR8 7BA"},{"DocumentName":"NorthBridge, Glasgow","DocumentUrlPath":"/northbridge","Address":"Pinkston Road, Glasgow, G4 0DD"},{"DocumentName":"Dominion, Doncaster","DocumentUrlPath":"/dominion","Address":"Woodfield Way, Doncaster, DN4 8FE"},{"DocumentName":"Suthers Court Phase 3","DocumentUrlPath":"/suthers-court-phase-3","Address":"Suthers Street, Oldham, Manchester , OL9 7EQ"},{"DocumentName":"Jessop Park, Bristol","DocumentUrlPath":"/jessop-park-bristol","Address":"William Jessop Way, Hartcliffe, Bristol, BS13 0RL"},{"DocumentName":"Oswald Place, Cheadle","DocumentUrlPath":"/oswald-place-cheadle","Address":"Ashbourne Road, Cheadle, ST10 1SA"},{"DocumentName":"Gynsill Gate, Anstey","DocumentUrlPath":"/gynsill-gate-anstey","Address":"Gynsill Lane, Anstey, Leicestershire , LE7 7AH"},{"DocumentName":"Coatsbrae, Paisley","DocumentUrlPath":"/coatsbrae-paisley","Address":"Barskiven Road, Paisley, PA1 2AB"},{"DocumentName":"Primrose Lodge, Goscote","DocumentUrlPath":"/primrose-lodge-goscote","Address":"Goscote Lane, Walsall, WS3 1RS"},{"DocumentName":"Vision, Bradford","DocumentUrlPath":"/vision-bradford","Address":"Harrogate Road, Bradford, BD2 3HP"},{"DocumentName":"Canterbury Park, Liverpool","DocumentUrlPath":"/canterbury-park-liverpool","Address":"Princess Drive , Huyton, Liverpool, L14 9NQ"},{"DocumentName":"The Docklands, Birkenhead","DocumentUrlPath":"/the-docklands-birkenhead","Address":"Stanley Road, Birkenhead , CH41 7BG"},{"DocumentName":"Foxlow Fields, Buxton","DocumentUrlPath":"/foxlow-fields-buxton","Address":"Ashbourne Road, Buxton, SK17 9RZ"},{"DocumentName":"Waterside Leicester","DocumentUrlPath":"/waterside-leicester","Address":"Frog Island, Leicester, LE3 5BY"},{"DocumentName":"Evolve, Wakefield","DocumentUrlPath":"/evolve-wakefield","Address":"Cross Street, Hemsworth, Wakefield, WF9 4QP"},{"DocumentName":"Brearley Forge, Sheffield","DocumentUrlPath":"/brearley-forge-sheffield","Address":"Adrian Crescent, Sheffield, S5 8DL"},{"DocumentName":"The Sycamores, Stockton-on-Tees","DocumentUrlPath":"/the-sycamores","Address":"Off Bath Lane, Stockton-on-Tees, TS18 2DX"},{"DocumentName":"Liberty Glade, Houghton-le-Spring","DocumentUrlPath":"/liberty-glade","Address":"Off Blackthorn Way, Houghton le Spring, DH4 6JW"},{"DocumentName":"The Rise, Newcastle Upon Tyne","DocumentUrlPath":"/the-rise","Address":"Off Whitehouse Road, Newcastle upon Tyne, NE15 6EP"},{"DocumentName":"High View, Blaydon","DocumentUrlPath":"/high-view-blaydon","Address":"Off Elm Road, Blaydon-on-Tyne, NE21 5AW"},{"DocumentName":"Belgrave Place, Minster-on-Sea","DocumentUrlPath":"/belgrave-place-minster-on-sea","Address":"Belgrave Road, Minster-on-Sea, ME12 3EB"},{"DocumentName":"City's Reach, Hull","DocumentUrlPath":"/citys-reach-hull","Address":"Grange Road, Hull, HU9 4LQ"},{"DocumentName":"Riverbank View Phase 3, Salford","DocumentUrlPath":"/riverbank-view-phase-3-salford","Address":"Littleton Road, Salford, M6 6HX"},{"DocumentName":"Kestrel Gardens","DocumentUrlPath":"/Kestrel-Gardens","Address":"Carlton Road, Barnsley, S71 2AY"},{"DocumentName":"Millfields Park, Scarborough","DocumentUrlPath":"/millfields-park","Address":"Field Lane, Scalby, Scarborough, YO13 0QG"},{"DocumentName":"Cable Wharf, Northfleet","DocumentUrlPath":"/cable-wharf","Address":"Cable Wharf, Northfleet, DA11 9AA"},{"DocumentName":"Hoddings Meadow, Hodthorpe","DocumentUrlPath":"/Our-developments/Midlands-2/Hoddings-Meadow-Hodthorpe","Address":"Broad Lane, Hodthorpe, S80 4XD"},{"DocumentName":"Lyle Place","DocumentUrlPath":"/Lyle-Place-Bury-St-Edmunds","Address":"St Olaves Road, Bury St Edmunds, IP32 6RW"},{"DocumentName":"The Hawthorns, Hebburn","DocumentUrlPath":"/Our-developments/North-East/The-Hawthorns-Hebburn","Address":"Off Campbell Park Road, Hebburn, NE31 2SL"},{"DocumentName":"Exhall Gardens","DocumentUrlPath":"/Exhall-Gardens","Address":"School Lane, Exhall, CV79GE"},{"DocumentName":"Malthouse Place, Shobnall","DocumentUrlPath":"/Malthouse-Place-Shobnall","Address":"Shobnall Road, Burton-on-Trent, DE14 2AU"},{"DocumentName":"Aspire, Leeds","DocumentUrlPath":"/aspire-leeds","Address":"Swallow Crescent, Leeds, LS12 4RB"},{"DocumentName":"Horizon, Rastrick","DocumentUrlPath":"/horizon-rastrick","Address":"New Hey Road, Rastrick, HD6 3LP"},{"DocumentName":"Stallings Place, Kingswinford","DocumentUrlPath":"/Our-developments/Midlands-1/Stallings-Place-Kingswinford","Address":"Stallings Lane, Kingswinford, DY6 7UD"}]

Keepmoat Half Year Update Report (H1 to 30 September 2017)

Keepmoat continued its strong growth trajectory during the first 6 months of its financial year ended 31 March 2018.

Sale of Regeneration

On 30 April 2017, we completed the sale of our Regeneration business to ENGIE Services Holding UK Limited, for proceeds of £313.3m.  Following the disposal, the Group made a cash return to shareholders of £145m in aggregate, followed by the redemption of £163m of bond debt on 15 June 2017.  The process to separate Regeneration from the remaining Keepmoat business proceeded smoothly, with all work streams except IT separating fully by 31 July 2017. 

Business Performance and Growth

Following the sale of the Regeneration business, Keepmoat’s principal business is Keepmoat Homes.  Keepmoat Homes is a leading partnership homebuilder, operating across mainland UK, providing high quality, private affordable homes, primarily to first time buyers and first time movers.

Keepmoat Homes has continued its strong growth trajectory during the first 6 months of FY18, selling 1,570 homes during the period, up +41.2% on prior year (H1 FY17:  1,112 homes).   Revenues for the same period grew by £74.7m (+47.8%) to £230.8m (H1 FY18:  £156.1m).  Revenue growth has been achieved mainly as a result of increased volumes, but Keepmoat has also benefited from an increase in average selling price of +4.7%. 

We continue to maintain a healthy pipeline.  At 30 September 2017, our pipeline (including sites on which we have been appointed preferred developer) stood at 34,421 plots, representing 10.2 years of supply at LTM house sale rates, and up +36.0% on prior year (H1 FY17:  25,305). 

We have successfully secured a number of projects to support our long term pipeline, notably including a significant new partnership with Herefordshire Council, under which we will contribute to the delivery of 800 homes in Hereford’s new urban village. 

In addition, we are pleased to announce our investment in a new joint venture company, ILKE Homes Limited.  ILKE will construct modular housing, in partnership with Keepmoat.

Market Factors

As part of the Autumn Budget, the Government pledged to provide financial incentives to support the construction of 300,000 more homes per year by the mid-2020’s through measures such as the Housing Infrastructure Fund.  Further, the Government pledged to support the development of construction skills across the country.  At Keepmoat, we remain committed to the delivery of these much needed new homes, and consider the Government’s support in the sector to be highly encouraging.  We continue to work alongside our local authority and housing association partners, to identify and develop land suitable for housing.  Our model is highly suited to a continuing policy preference for brownfield development, and makes us an attractive partner for local authorities, housing associations and other owners of land, as demonstrated by our continuing growth.

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