AVANT Homes chief executive Colin Lewis has pledged to grow Scottish revenue to £125m, delivering more than 600 new homes per year within a two year period.
Avant, whose Scottish division previously traded as Bett Homes, saw the benefits of a strategic focus in the central belt last year, as revenue increased to £65m in the year to April 2017, from £27m.
And Mr Lewis said the Scottish business was profitable again, after posting an £18m pre-tax loss last year.
Avant is using a new £200m banking facility with HSBC, RBS, Santander and Bank of Ireland, to support its ambitions to grow overall revenue to £500m.
Mr Lewis said “Scotland is and will remain a very important part of our strategy.”
The company plans to increase it land purchases north of the Border to accelerate its growth, and Mr Lewis said the business would build as soon as it was legally possible on land, as opposed to holding sites for future investment.
Mr Lewis there was a strong supply pipeline in Scotland at the moment.
“The business plan is very straightforward. We have four regions as we are, and we think we can get the £500m turnover, 2000 unit business [UK-wide] by making each business the same size as the others,” said Mr Lewis. “For each region that means our aspiration is to reach at least 500 plots and at least £125m turnover. I see Scotland playing a strong part; it will contribute at least one-quarter of our business, and I want it to stay there. As the national business grows so I want our Scotland business to grow proportionally.”
Avant recently made four staff redundant at its Stirling operation as it “diverted resources elsewhere”, with Mr Lewis saying the business was recruiting in other areas.
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