Morro Partnerships has reported a significant rise in turnover and profit in its latest financial results.
The Midlands-based partnerships housebuilder recorded a total turnover of £127.7million, a 28% increase year-on-year, as well as a substantial rise in pre-tax profit. The company says that the positive results demonstrate its continued commitment to its partners, affordable developments and social value.
Morro Partnerships says that the business has now grown to 150 employees and operates from two mature regional bases.
The business has now delivered a combined project pipeline value of over £500million through its land acquisition and developments, and is working towards delivering 2,500 homes across the East and West Midlands.
Matt Moore, CEO at Morro Partnerships, said: “The past financial year at Morro and the success we have achieved have shown our strength of working in collaboration with local authorities, combined authorities, Homes England, registered providers and private investors. Through these key partnerships, both new and existing, we continue to prioritise regeneration and affordable living.”
“Intrinsic to the growth has been our commitment and drive to innovate in everything we do – demonstrated by our own timber frame facility, the Innovation Hub. Equally, social value remains a core part of our business, with an upcoming impact report showing a total of £13.6m achieved and recognition in both regional and national awards.”
Morro Partnerships’ projects include Yardley Brook in Birmingham, a 298-home affordable housing scheme and regeneration of a former sewer works which aims to deliver over £3.1million in social value through local supply chains, employment apprenticeships, fundraising and donations to community causes.
The first homes are due for handover by the end of the year, with full completion of the site earmarked for 2030.
Matt Moore added: “To ensure we are continuing to push our teams forward, we have made significant investments across all areas of the business, including making several key appointments. As the first and only SME housebuilder nationally to achieve SBTi accreditation, I am incredibly proud of how we continue to set a benchmark for the industry, showcasing the strength of partnership programmes and supporting our Midlands communities.”
