Adderstone Group Achieves Impressive Growth in 2021-22: Doubling Post-Tax Profit and Increasing Asset Base by £40 Million

The Adderstone Group, a North East-based property company, achieved remarkable growth in the year up to March 31, 2022. The business, composed of over 50 subsidiaries, increased its asset base by an impressive £40 million and their post-tax profit came to an incredible £8.3 million. This was more than double the previous year’s profit of £4.2 million. Consolidated turnover for the group amounted to £22.3 million while their total investment portfolio saw a rise of 35% with a value of £155 million.Adderstone Group purchased 11 different investments during this period including a Mayfair property on 7 Stratton Street for their London team quarters which has since gained positive pre-application support from Westminster Planning Authority and plans to begin redevelopment in the future. Furthermore, their team in London has built up its development and management portfolio impressively too.

Summary

• Adderstone Group almost doubled profits to £8.3m in a year
• The group acquired 11 investment assets during the year, including a new prestigious Mayfair home for its London-based colleagues
• The firm said the team in the London office continues to build its development and management portfolio.

What portfolio value was reported by the Adderstone Group in the year ending March 31, 2022?

The Adderstone Group reported a portfolio value of £155m in the year ending March 31, 2022.

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Picture source: Charles Postiaux