Brownfield boost as firm’s revenue leaps 217%
Contaminated land work is returning to profitability with a leading firm revealing revenue increased by a whopping 217% pulling it back into profit.
This means revenue for Inland, developers of urban regeneration projects around southern England, went up to £16.54million this year from £5.22million in 2009.
The unaudited preliminary results, for the year ending June 2010, were released earlier this month.
Inland makes its money by buying polluted sites and getting planning permission for new developments and clean-ups before selling the land on for a profit.
Overall the firm made an operating profit £2.04million this year against a loss £3.93 million in 2009.
Inland chief executive, Stephen Wicks, said: “We are extremely pleased to report a significant increase in turnover and more importantly a return to profitability, this is a notable achievement in a difficult trading environment.
“There is good demand for land within our portfolio with a pipeline of land disposals and some interesting new prospects.
“Inland is well placed to benefit from an environment where planning permissions are becoming even more difficult to secure and we are confident about its ongoing strategy.”
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