Subscribe to trusted local news
If you are accessing this story via Facebook but you are a subscriber then you will be unable to access the story. Facebook wants you to stay and read in the app and your login details are not shared with Facebook. If you experience problems with accessing the news but have subscribed, please contact subscriptions@thestrayferret.co.uk. In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.
- Subscription costs less than £1 a week with an annual plan.
Already a subscriber? Log in here.
11
Jan 2022
Flaxby modular housing developer posts £41m loss
Flaxby-based modular housing developer Ilke Homes has posted a loss of £41m in its latest annual report.
The company, which has 500 employees, builds homes at its factory on Flaxby Moor Industrial Estate near Knaresborough that are then delivered across the UK.
In the year to 31 March 2021, the company sold 199 homes, up by a third from the previous year.
The report says the company was "significantly impacted" by covid. It adds a restructuring and redundancy programme in summer 2020 led to the departure of 122 employees.
But it adds that the long-term future of the company is healthy and it aims to become a top 10 house builder within the next five years.
It adds:
Read more:
- Harrogate council to continue to fund Welcome to Yorkshire
- No agreement over Harrogate Starbucks appeal costs six months on
Since the company was founded in 2018 it has yet to turn a profit, and has reported combined losses of over £100m.
Homes England, the government's housing agency, has invested £60m into the company since 2019.
The Stray Ferret asked Ilke Homes for comment but did not receive one by the time of publication.
0