Wednesday, February 24, 2021
  • ABOUT US
  • WEBMAIL
  • GENSOCIAL
Genesis Radio Birmingham
  • HOME
  • NEWS
    • ALTERNATIVE NEWSNEW
    • ENTERTAINMENT NEWS
    • FOOD NEWS
    • HEALTH NEWS
    • MOVIE TRAILERS
    • LOCAL NEWS
    • MUSIC NEWS
  • WHATS ON
  • GENSOCIAL
  • GENESISTV
  • BEATZCLOUD
No Result
View All Result
Genesis Radio Birmingham
  • HOME
  • NEWS
    • ALTERNATIVE NEWSNEW
    • ENTERTAINMENT NEWS
    • FOOD NEWS
    • HEALTH NEWS
    • MOVIE TRAILERS
    • LOCAL NEWS
    • MUSIC NEWS
  • WHATS ON
  • GENSOCIAL
  • GENESISTV
  • BEATZCLOUD
No Result
View All Result
Genesis Radio Birmingham
No Result
View All Result
Home Local News

St Modwen boss hails ‘strong operational results’ despite pre-tax loss of almost £140m

Genesis Radio by Genesis Radio
9 February 2021
in Local News
0 0
0
St Modwen boss hails ‘strong operational results’ despite pre-tax loss of almost £140m
4
VIEWS
Share on Facebook


Property giant St Modwen has hailed ‘strong operational results’ – despite slipping to a pre-tax loss of almost £140m.

You might also like

Linear Diagnostics secures £800,000 for medical tech

Evo Dental to open third UK base in Solihull

10 new jobs set to be created after North Staffordshire construction firm secures £150k CBILS loan

Its latest results for the year end November 30, 2020, revealed the company reported a loss of £139.4m – compared to a £58.9m profit in 2019.

The Birmingham-headquartered company also saw revenue fall to £342.1m down from £429.9 million the previous year.

St Modwen’s chief executive officer Sarwjit Sambhi said the business was ‘significantly affected’ by the Covid-19 crisis, despite a marked improvement in the second half of the year.

But over the next 12 months the company has a ‘clear strategy’ – focusing on the two key sectors of logistics and housebuilding – which is expected to ‘materially improve’ the company’s recurring income and return on capital.

BusinessLive is your home for business news from around the country – and you can stay in touch with all the latest news through our email alerts.

You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we’ll send out breaking news alerts for any stories we think you can’t miss.

Visit our email preference centre to sign up to all the latest news from BusinessLive.

Mr Sambhi added: “St. Modwen delivered strong operational results in 2020 under extraordinary circumstances. Thank you to all our colleagues for their outstanding efforts and for overcoming the challenges posed by the pandemic.

“Our strategy is focused on two sectors, logistics and housebuilding, where structural demand is growing, acknowledging that the economic outlook is uncertain. These sectors make up 78 per cent of our portfolio today and will represent over 90 per cent within three years. In both, momentum is strong, and we have an attractive pipeline to accelerate growth.”

St Modwen is involved in a host of regeneration schemes across the West Midlands, particularly the £1 billion project to create a new town centre in Longbridge, south Birmingham, on land previously occupied by MG Rover factories.

So far, the work has already welcomed a new Sainsbury’s supermarket, hotel, retail park and hundreds of houses with future plans including a green square and new office accommodation.



Source link

Previous Post

King King, 9 Feb 2021

Next Post

Raya and the Last Dragon Big Game Trailer Does ‘The Jumpy Thing’ at Super Bowl

Genesis Radio

Genesis Radio

Related Posts

Linear Diagnostics secures £800,000 for medical tech
Local News

Linear Diagnostics secures £800,000 for medical tech

by Genesis Radio
24 February 2021
Evo Dental to open third UK base in Solihull
Local News

Evo Dental to open third UK base in Solihull

by Genesis Radio
24 February 2021
10 new jobs set to be created after North Staffordshire construction firm secures £150k CBILS loan
Local News

10 new jobs set to be created after North Staffordshire construction firm secures £150k CBILS loan

by Genesis Radio
24 February 2021
Axa agrees Birmingham office deal
Local News

Axa agrees Birmingham office deal

by Genesis Radio
23 February 2021
Speedy Freight vows to create 50 new jobs in West Midlands
Local News

Speedy Freight vows to create 50 new jobs in West Midlands

by Genesis Radio
23 February 2021
Next Post
Raya and the Last Dragon Big Game Trailer Does ‘The Jumpy Thing’ at Super Bowl

Raya and the Last Dragon Big Game Trailer Does 'The Jumpy Thing' at Super Bowl

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Genesis Radio Birmingham

Premier Music & Media Limited
27 Old Gloucester Street
London
WC1N 3AX

Company

  • About Us
  • Advertise
  • Contact Us
  • Join Our Team
  • Privacy Policy
  • Terms & Conditions

Recent News

Women of Colour In The Film Industry – I am Excited About What’s Ahead for Us

Women of Colour In The Film Industry – I am Excited About What’s Ahead for Us

24 February 2021
19 year old Grime emcee SBK shares his new EP

19 year old Grime emcee SBK shares his new EP

24 February 2021

GenesisRadioBirmingham.com is a trademark of Premier Music & Media Ltd. © 2021

No Result
View All Result
  • HOME
  • NEWS
    • ALTERNATIVE NEWS
    • ENTERTAINMENT NEWS
    • FOOD NEWS
    • HEALTH NEWS
    • MOVIE TRAILERS
    • LOCAL NEWS
    • MUSIC NEWS
  • WHATS ON
  • GENSOCIAL
  • GENESISTV
  • BEATZCLOUD

GenesisRadioBirmingham.com is a trademark of Premier Music & Media Ltd. © 2021

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.