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16
Mar 2023
Council's Brierley Group set to return to profit
North Yorkshire County Council is estimating that its Brierley Group of companies will return to profit by the end of the financial year.
According to a performance report for the group, the businesses are forecast a £2.69 million profit before tax by the end of 2022/23.
The figure is against a budgeted profit of £2.61 million.
It comes as the companies had previously posted losses of £327,000 for the previous financial year due to the covid pandemic.
The county council puts the performance down to a “positive outlook” for sales in Brierley Homes sites and other companies performing above budget.
A report due before the council’s shareholder committee said that while revenue was ahead of budget, the group still faced cost increases, inflation and high energy and labour costs.
It said:
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Brierley Homes saw completion of two of its housing sites last year, which is expected to see sales “fully realises this financial year”, the report added.
The sites include Woodfield Square in Bilton and Millwright Park in Pateley Bridge.
The company expects further sales for its Yew Tree Farm site in Marton-Cum-Grafton.
Meanwhile, Align Property Partners is expected to publish a profitable position with “new external client contracts being acquired” and the firm having a “significant outperformance” against budget.
The company is expected to operate on a commercial basis under North Yorkshire Council as the authority sets up a new council-owned estates firm.
However, North Yorkshire Education Services is expected to post a loss for the financial year.
The council has put this down to "ongoing issues in the education market" due to covid, including rise in food costs in school catering and low pupil attendances levels.
The report said:
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