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November 30, 2023

Mount Anvil CFO leaves after two months

Mount Anvil CFO leaves after two months

Mount Anvil’s scheme at Royal Eden Docks in east London

Mount Anvil’s chief financial officer Katie Rogers has left the business after less than two months in the job.

Rogers joined the developer and contractor in May, following an 11-year stint at Telford Homes, but has now departed following differences in “culture and approach”. It comes as the company reported a 59 per cent jump in pre-tax profit.

In a statement shared by Mount Anvil on LinkedIn, Rogers said: “Mount Anvil is a high-performing business with great people and great fundamentals.

“Its culture and approach is unique and different, and at this point in my career making that transition isn’t for me. I’ll be working in an advisory capacity at Mount Anvil supporting the transition there until I start my new challenge.”

The company said it “wish[es] Katie all the best for the future”, adding that its finance developer Alastair Agnew had been appointed as its new chief financial officer. Rogers, meanwhile, is set to become chief financial officer at Greencore Homes later this year.

In financial accounts published last week, Mount Anvil, which specialises in working with housing associations and councils regenerating London housing estates, posted a pre-tax profit of £6.3m in the year to the end of December 2022. 

Mount Anvil said it had “continued to be largely unaffected by Brexit or the war in Ukraine… including labour supply and cost inflation”. Group turnover, including joint ventures (JVs), jumped 22 per cent to £246m. 

Excluding JVs, the firm’s turnover rose 25 per cent to £171m. Of this, 86 per cent came from Mount Anvil’s design-and-build contracting arm, with the rest from property development. 

The firm delivered 386 homes in the year through JVs last year – a 13 per cent drop on the previous year’s figure of 442. However, the group said demand for London property and its homes remained strong. Of the 386 homes, it said 208 were affordable housing and 178 were for private sale. 

In February, Mount Anvil was picked by Kensington and Chelsea Council as a development partner for a scheme in Chelsea. It is also working with Peabody-owned housing association Catalyst on a 1,228-home regeneration project in west London. 

Mount Anvil said its results were boosted by a “significant number of home completions” at its Royal Eden Docks scheme, a 796-homes joint venture with ExCeL London near City Airport.

Elsewhere in its accounts, Mount Anvil revealed that its provision for remedial work on legacy schemes stood at £15.3m, compared to its restated 2021 figure of £12.2m. The firm said it recorded an extra provision due to a “further review of legacy schemes”. 

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