A Leicestershire-based housebuilder has returned to profitability, following a challenging period in the housing market.
Jelson Limited posted a £3.5 million pre-tax profit for the year ended 30 April 2025, reversing a £2.3 million loss in the previous year.
Turnover rose to £75.7 million, up from £73.3 million, with house sales increasing by three per cent, however, unit completions fell by six per cent, due to a shift between market and affordable housing plots.
Despite a challenging housing environment marked by high interest rates and economic uncertainty leading to lower house prices, Jelson improved its gross margin to 15 per cent through efficiency measures and better site quality.
The company’s rental property saw gross rental income fall five per cent due to a reduction in units, although rental rates remained “strong”.
SPONSORED CONTENT by CHIME
Champion Groundworks have removed 100’s of phone calls and paper timesheets with a move to digital. Read More
Jelson set aside £3.3 million in provisions, including £1.6 million for cladding remediation, to cover expected future costs.
The firm owes creditors £95.2 million within the year, including loans that remain unchanged at £32 million, with the £30 million Barclays loan secured against land and developments, while a £2 million property loan was recently drawn down.
Barclays waived previous covenant breaches following new agreements signed in October 2025.
Net assets increased from £160.9 million to £163.6 million during the year, while cash decreased to £1.9 from £4.4 million.
Despite the market challenges, the company remains optimistic about its long-term prospects, citing a strong land bank, an established workforce, and stable rental income as key factors supporting future growth.
“The Board are positive about the opportunities the market brings and in the company’s long term prospects,” said bosses in their accounts.
Jelson, which works primarily on developments across the East Midlands, has been building properties in the region since 1889.
Accounts filed under Jelson Holdings, which includes other subsidiaries in addition to Jelson Limited, such as plant hire, real estate letting and operations, and plumbing and electrical contractors, also returned to the black with a pre-tax profit of £4.6 million (FY2024: £1.2 million loss), with total turnover rising to £112.8 million from £107.1 million.
Was this interesting? Try: Vistry profits hit £270m as affordable housing adds to £4bn order book
If you have a tip or story idea that fits with our publication, please contact danielle@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.
Notice: JavaScript is required for this content.