| This year marks the very first time that The Banks Group's full year results don't include any coal mining activities, coming three years on from the closure of its last coal mine.
And thanks to strong trading in its renewable energy and property development divisions the Durham firm is – according to its consolidated results – back to pre-pandemic levels.
During the Covid-19 pandemic the firm took hits from planning delays, lockdowns and the loss of earning from its mining operations, but with revenues up to £112m from £67m, and operating profit doubling from £18m to £36m, the firm is now more confident for the future, with the group hailing how it is "in an excellent position to maximise the opportunities available from the markets in which we operate".
Looking ahead, alongside a whole pipeline of renewable energy projects, the firm's new regional housebuilding company Banks Homes is set to start work on its first projects, while its existing development subisidary continues its work with UK housebuilders, as it has done for 35 years, so it should be a busy time in the future for the wider group.
Mr Fisher warns of continuing obstacles however, saying: "Despite the welcome growth in revenues for our property business and the significant positive impact that we expect to see from Banks Homes in the coming years, it remains clear that current planning delays are holding back developments across the UK leading to shortages in land available for much-needed new homes."
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