Report & Financial Statements 2023

Corporate Accounts 2023

Strongest numbers to date.

Clowes Developments present their strongest numbers in its history with turnover of £253.2m and operating profit of £43.4m for the financial year 2022-23.

The group’s turnover and profitability are a reflection of the fluctuating nature of the business. These results originate from a number of sources but crucially Clowes were able to complete their deal with NFUM delivering six industrial units which accounted for £99m of the total turnover. The group also saw the first completion at Dove Valley Park on their deal with Hines involving the speculative development of over 750,000 square feet of commercial space which will further boost revenues into the next financial year.

The results for 2023/24 are forecast to be lower than those achieved in the current year with several contracted deals in place, some of which have already completed since the year end.

£253.2m turnover

Chairman of Clowes Developments, David Clowes, said:

Our latest figures tell an on-going and compelling story of robust financial management and cautious investment. Our buoyancy is testament to the hard work of our professional team and a vote of confidence from the market in our company’s ethos and commercial direction.”

Strong foundations

Report & Financial Statement 23

Corporate Accounts 2023

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