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Keepmoat Annual Report 2020

  • Text
  • Lease
  • Keepmoat
  • Strategic
  • Annual
  • Income
  • Assets
  • Limited
  • Homes
  • Statements
  • October
Keepmoat has released its Group financial results for the year ending 31 October 2020.

CHIEF EXECUTIVE

CHIEF EXECUTIVE OFFICER’S STRATEGIC REPORT A regional focus on national delivery Keepmoat Homes is committed to delivering high-quality, affordable homes across the UK, with nine regional businesses organised into two divisions: the North Division, comprising Scotland, the North West, MCI (North West), the North East and West Yorkshire; and the South Division, comprising East Yorkshire, East Midlands, West Midlands and South Midlands. A Divisional Chairman is responsible for each of the two divisions, supported by a Divisional Finance Director. The above divisional and regional structure follows a structural review conducted by the Keepmoat Homes board, under which the Groups operations were reorganised in some geographies to ensure that the business is optimally structured to continue to progress with the delivery of its growth plans. This included the merger of our Keepmoat Homes presence in the North West within a single region to leverage the combined leadership team and deliver a consolidated approach to the regional market, operating the South West region as a satellite to the West Midlands office, and the relocation of our Southern regional office from Luton to the Northamptonshire area, to focus our presence in the South Midlands geography that has proved more suitable and successful for the Keepmoat business model. The regional businesses and their boundaries will remain flexible allowing for growth and expansion into new areas where this makes sense and is required to enable all offices to remain at an optimum size for effective management. Each of the regional businesses has its own management board and is empowered to deliver our overarching operational excellence strategy, applying the Group’s policies and systems to local markets and circumstances. This structure and approach mean that we are well positioned for future growth in the right locations. Over the past twelve months we have continued to concentrate driving excellence in all areas of the business including launching our Operational Excellence Strategy and introducing even greater rigour to manage our sites holistically to fully optimise our development economics over the full lifecycle of our developments. With enhanced financial processes and reporting, this enables us to ensure we are buying land with the right margins and in the right locations. As a result, we remain well positioned to deliver shareholder value and delight our customers by building more of the high-quality homes they deserve, in the places they want to live. At the end of last year, we delivered a series of High- Performance Culture sessions to our Senior Leaders and Management Teams to support them in our drive to create high-preforming teams right across the business. We have already come a long way in this area but recognise that we still have more to do. 9 regional businesses Organised into two divisions: North Division - Scotland, North West, MCI (North West), North East and West Yorkshire. South Division - East Yorkshire, East Midlands, West Midlands and South Midlands. 12 KEEPMOAT.COM

STRATEGIC REPORT Map Key: Scotland North East Yorkshire West Yorkshire East North West MCI Developments West Midlands and South West East Midlands South Midlands 2,460 homes sold in 2020 ANNUAL REPORT & FINANCIAL STATEMENTS 2020 13