May 11, 2016
Privately-owned trader/developer Salmon Developments Limited has announced its annual results for the year ended 31 December 2015.
On turnover of £17.6m the company made profits of £4.2m while net assets rose to £11.6m. Salmon’s primary operating vehicle is Salmon Harvester Properties Limited, its 50/50 joint venture with NFU Mutual, which produced pre-tax profits of £3.4m on a turnover of £18.7m.
Chief Executive Doug Stewart said: “We had a very busy and successful 2015 completing, letting and selling a number of key projects. We have another £250m plus of development deals in the pipeline, most notably £100m PRS and office schemes in Bristol, a 240,000 sq ft office development in Windsor and a £75m retirement village in High Wycombe.
“Our investment management operation, Salmon Harvester Opportunity Fund was equally successful where the value of the portfolio increased from £172.8m to £191.2m (before sales) giving an annual fund performance of 24.3% and a rolling three year fund performance of over 22% pa. We are expecting 2016 to deliver continued outperformance of the wider market”.
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