CWC Group financial results for 2019

In its latest annual accounts, the Derbyshire-based property group recorded a turnover of £116.1 million and an operating profit of £39.3 million for the financial year 2018-19. This is up from a turnover of £104.9 million and an operating profit of £32.4 million during 2017-18.

Overall turnover and profitability at the company, one of the UK’s largest privately owned property groups, has more than doubled in the last five years.

The group has continued to deliver several standout developments over the past year, including the new mixed use Fairham site south of Nottingham, and has a healthy pipeline of sites and projects spanning the next 10-15 years.

The group holds over 3,000 acres of land and 15,000 residential plots in 130 development sites across the country, as well as more than 50 office and business parks and a number of larger mixed use sites such as Fairham.

Chairman of the CWC Group, David Clowes, said: “Our latest figures tell an on-going and compelling story of robust financial management and cautious investment. To have more than doubled our turnover and profitability over the past five years is testament to the hard work of our professional team and a vote of confidence from the market in our company’s ethos and commercial direction.”

Managing Director of the CWC Group, Ian Dickinson, said:

To have another record year of growing turnover and profitability is an indicator of the state of the UK property market and our approach to it. While turnover and profitability can fluctuate over individual years, it is always better to look at long term trends, which are highly favourable for the group and its future development pipeline. This long-term vision underlines our entire approach to investment and development and will continue to do so.”

At Fairham in Nottinghamshire, Rushcliffe Borough Council gave the green light early in 2018 for a £750 million exemplar, mixed use development of up to 3,000 new homes as well as 1 million sq ft of commercial space that could create 2,500 new jobs. Development of infrastructure on the site is expected to begin later in 2020.

Founded by Charles Clowes in 1964, the CWC Group has flourished over the years to become one of the largest privately owned property companies in the UK. As an experienced developer, landowner and landlord, CWC has real depth of experience across the full spectrum of real estate activity. CWC has a world-class portfolio of developments in the commercial, residential, leisure, industrial and mixed use sectors across the UK.