St Mark Homes is building momentum
St Mark Homes (SMAP:NEX) is primarily focused on midtier developments in London and the South East and has successfully completed over 20 property developments since inception, creating over 500 new homes for homeowners in the South East of England.
It has a small but highly qualified and experienced management team and usually partner with other trusted developers and parties who can bring acquired sites, construction and sales expertise to our development projects.
‘The company focuses on the mid-range residential market with projects typically between 10-50 units, selling below £1,000 per sq ft’ says Sean Ryan, finance director. ‘We have continued to focus our efforts on residential developments within the Government’s London Help to Buy scheme limit of £600k – this market that has proved to be quite resilient’ says Ryan.
St Mark is currently engaged with, and has committed capital to, developments in Sutton, Wembley, Battersea and Hounslow – all well positioned schemes which offer good value to homebuyers.
Notwithstanding the slowdown in the residential market in London generally, the company continues to return decent results - profit for 2017 was £383,738 representing earnings per share of 7.32p. The Company paid an annual dividend in July of 5.5p to shareholders representing a dividend yield of almost 6%.
The company schemes in Battersea and Hounslow are expected to mature in the coming months and although profit recognition may arise in early 2019 rather than the current financial year the directors are committed to driving performance and to maintaining dividend distributions to shareholders.
‘We have remained disciplined in project selection and financial management down through the years and this has allowed us to maintain a strong dividend reward to our shareholders,’ says Barry Tansey, CEO.
The company successfully launched a bond in association with Crowd-stacker in the later part of 2017 and early 2018 raising almost £3.5m in the process. The resulting funds have been deployed in its projects at Wembley and Sutton.
INTRODUCING… ST MARK HOMES a successful residential and mixed-use property developer established in 1999 and listed on the NEX stock exchange in London.
Barry Tansey, chief executive
Sean Ryan, finance director