Strong Financial Performance as Wain Group Continues Growth Journey
Land and property developer, Wain Group, celebrated its 50th year in business with an increase in revenue and strong growth in all areas.
The North West-based company reported revenue of £340m in the 12 months to October 2022 – up nearly 25% from £276m in the previous year. Pre-tax profit increased by £4.2m year-on-year to £57.6m.
With a long term strategy of investing into strategic land, the Group currently controls land with a Gross Development Value (GDV) of £5.277bn.
Founded in 1972 the Group is made up of housebuilder Wain Homes and land and property company Wain Estates.
Operating across three regions - the North West, South West and Severn Valley - Wain Homes delivered 1,169 new homes, a pre-tax profit of £47.2m on turnover of £313m.
Wain Estates was last year split into two operating divisions, Land Promotion and Development, and returned pre-tax profit of £10.6m on turnover of £28.1m.
The year also saw the privately-owned company investing significantly in its people and working environments acquiring a new Group headquarters and refurbishing its North West offices.
Executive Chairman Will Ainscough, said: “Wain Group has performed exceptionally well over the last 12 months. We thrived during the unprecedented impacts of Covid, Brexit and, more recently, have proven resilient in the face of a global energy crisis.
“We have shown our ability and experience to navigate through and generate excellent financial results, whilst growing the business in the process.
“Our people are our most important asset and I was most pleased that our Employee Net Promoter score is now 48 – well above the ‘excellent’ standard of 30.
“We will continue to invest in skills and colleagues to ensure our people can grow and develop alongside the company.”
Wain Estates saw the appointment of two Managing Directors, Jack Brister heading up Development and Angela Heaney leading Land Promotion and the intention is to grow both divisions in order to increase diversity across the Group’s commercial activities.
The Carrington Estate is the largest project within the Group and is entering a key phase with four projects, totalling 2m sq ft of logistics and warehouse space, currently going through the planning system.
Wain Homes launched a new house type range and continued to see buoyant sales.
There is continued focus on achieving five-star Home Builder Federation status and Wain Homes won 3 NHBC Pride in job awards during the year.
Will added: “It was an enormous privilege to become the Executive Chairman of Wain Group in 2016. Over the last seven years the business has evolved enormously.
“We have focused on making sure we are well prepared to continue our success into the future. The biggest underlying factor of our ambitions is to create a company that is an attractive place in which to pursue a career. Our belief is that if we support and nurture our people, then all our other targets will fall into place.”
