In the year to 30th November 2024 Durkan Ltd made a pre-tax loss of £8.3m on turnover down 19% at £138.0m (2023: £170.5m).
This follows pre-tax losses of 4.6m and £12.4m in 2023 and 2022.
However, it was at least “pleasing to report”, said finance director Ian McArdle that this year’s accounts show a small operating profit, excluding exceptionals, of £100,000 (2023: £3.8m loss).
Exception items included £14.9m of fire safety remediation costs, partially offset by £6.3m recouped from insurance.
Durkan Limited includes both Durkan Regen, the recently rebranded refurbishment division, and the contracting division for the Durkan Group, but not Durkan Homes.
Durkan Ltd was previously the main contractor for the Durkan Homes business but Durkan Homes now contracts its own subcontractors, allowing Durkan Ltd to focus on projects under the Durkan Regen banner. This explains the fall in turnover last year.
Durkan’s contracting business completed three developments during the year and carried two live projects into 2025, including Kidbrooke Park Phase 2 in London, which will deliver 330 affordable homes for the Royal Borough of Greenwich and is set to complete in 2026.
Parent company Durkan Holdings made a pre-tax loss of £7.5m in the year to 30th November 2024 (2023: £3.9m loss) on turnover of £191.9m (2023: £171.9m). Durkan Homes turned over £72.0m (2023: £50.8m) from the sale of 145 new homes across four developments