Harworth signals a substantial increase in activity within the industrial and logistics sectors, with notable growth in turnover and profit.
The Yorkshire-based development company’s six-month results reveal a promising future driven by strategic investments and economic stability.
Harworth’s six-month results highlight a significant increase in revenues and profits. The company’s operating profit more than doubled to £21.1 million, demonstrating robust financial health. Total income surged from £18.3 million in the same period last year to £41.3 million.
Harworth’s land pipeline positions the company to deliver nearly 40 million square feet of new industrial and logistics space. Additionally, over 25,000 plots for new homes are in development. Planning permission has already been granted for more than 3 million square feet and 1,000 housing plots.
This growth strategy is expected to generate recurring income and support sustainable shareholder returns. Key transactions include a £106.6 million serviced land sale to Microsoft, underscoring Harworth’s robust market position.
The first half of the year saw significant progress in planning approvals, enhancing the company’s capacity in the industrial and logistics pipeline. This progress has led to a strong revaluation performance and increased land sales.
Chief Executive Lynda Shillaw stated, “Our focus on strategic objectives continues to deliver strong progress. We are on track to reach £1 billion EPRA NDV by the end of 2027, reinforcing our commitment to growth and sustainable shareholder returns.”
The sale of serviced land is a critical component of Harworth’s growth strategy, ensuring a stable revenue stream and supporting ongoing development plans.
Continued efforts in planning and development are expected to sustain this growth trajectory, positioning Harworth as a key player in the industrial and logistics sectors.
Harworth’s strategic focus and substantial gains underscore its strong market positioning and future growth potential.
The company’s achievements in the first half of the year set a promising foundation for continued success in the industrial and logistics sectors.
