Churchill Living saw its pre-tax profit fall for the year to June 2025, despite its turnover increasing.
The later living specialist recorded a pre-tax profit of £3.3million, falling from £3.9million in 2024. The Group’s turnover rose to £169.8million, up 14%, which the housebuilding attributed to a one-off contract.
Churchill saw its completions fall slightly to 386 for the year, down from 400 the previous year. Meanwhile, its average selling price rose by 4.9% to £368,000, which Churchill said was due to geographical mix.
At the start of the year, Churchill introduced a new divisional structure to consolidate its national presence into three geographical divisions, down from five regional offices. The Group said that these are now “well established and are “driving improved efficiencies as we continue to streamline our activities”.
Churchill says that the reorganisation was designed to reduce overheads, improve efficiency and strengthen communication with Head Office, ensuring a more agile and responsive operating model. It says that the new structure provides greater consistency in reporting, clearer accountability and a stronger foundation for delivering disciplined growth across the country.
Spencer J McCarthy, chairman and chief executive officer of Churchill Living, commented: “I am pleased to report on a highly disciplined and creditable performance for the year ended 30 June 2025 – a period that proved to be one of the most challenging in recent memory.”
As we completed our first full year under our new company name – Churchill Living – our rebrand is now fully established. Like our customers, we are focusing more strongly than ever on living value rather than simply retirement, delivering genuine value and quality of life for our owners and their families.”
“Market conditions during the year were among the toughest I have experienced in more than 30 years in business. Consumer confidence remained extremely low as the housing market and the wider economy continued to stall, restricting the housing chains on which our customers rely when selling their existing homes.”
“Build costs had continued to rise in previous years due to persistent inflation and increased regulation. I am pleased to report that we have our build costs under firm control, following sustained management focus and a disciplined approach to procurement, specification and design.”
“Despite the headwinds, we have remained resolutely focused on our customers, on quality and on delivering high-standard, well-managed retirement communities with among the lowest running costs in our sector.”
