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<\/a><\/div>\n<\/div>\nGroup turnover dropped 19% to \u00a3138m, reflecting a shift away from new build contracting work.<\/p>\n
Management warned that delays under the Building Safety Act and a slowdown in housing association and local authority project pipelines had prompted a reassessment of its design and build contracting business, which resulted in redundancies as the business scaled down.<\/p>\n
Durkan said its focus now lies with its rebranded refurbishment division, Durkan Regen, which targets retrofit, decent homes, and fire safety work. At this business turnover jumped 30% to \u00a323m.<\/p>\n
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<\/a><\/div>\n<\/div>\nThe division has strengthened its management team and is targeting growth through frameworks and term contracts with housing associations and local authorities.<\/p>\n
Live jobs have been scaled back, with just two ongoing this year, including Kidbrooke Park Phase 2, delivering 330 affordable homes in Greenwich.<\/p>\n
The board said the Group remains financially secure, holding \u00a335.1m in cash and meeting all covenant obligations.<\/p>\n
Parent company Durkan Holdings, which includes contributions from Durkan Homes and contracting, reported revenue up 12% to \u00a3192m suffering a pre-tax loss of \u00a37.5m.<\/p>\n
Durkan Homes contributed \u00a372m (2023: \u00a351m) to group revenue following the sale of 145 new homes across four developments<\/p>\n
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