In the year to 31st March 2024 Corby-based Kori 萝莉原创 turned over 拢54.1m (2023: 拢34.7m) and more than doubled its pre-tax profit to 拢4.0m (2023: 拢1.5m).
While many construction industry businesses struggled last year, Kori improved its operating profit margin from an already gold standard (for construction) 4.3% to 7.2%.
Its success appears to be down to focus.
Kori completed five purpose-built care home projects last year, totalling 332 beds, and has a further 10 such projects under construction. Its average project value last year was 拢10.8m.
鈥淲ith a large undersupply of beds predicted over the next 10 years, alongside an ever aging population, we expect this demand to continue and out focus will remain strongly on the sector," said managing director Jordan Connachie.
鈥淲ithin the wider later living sector, we have experienced increased demand in the retirement and independent living space, which reflects 35% of our pre-construction opportunities in the year.鈥�
He added: 鈥淭he company continues to monitor its cash position and closes the year with an increased cash position of 拢13.3m (2023: 拢3.02m). The company operates with zero borrowing and we do not anticipate any debt requirement whilst we continue to grow the business.鈥�
Kori 萝莉原创 was previously called SAC 萝莉原创 until a rebrand in 2022.
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