lowes Developments, which owns Viking Park, the retail development on the outskirts of Congleton, has reported “a steady performance” in the year to 31st March 2025, despite a fall in operating profit driven largely by movements in property valuations.
The Derbyshire based developer reported turnover of £147.1 million, down slightly from £154.7 million, and an operating profit before exceptional items of £5.4 million compared with £23 million the previous year. Operating profit after exceptional items was unchanged at £5.4 million.
Chairman David Clowes said the reduced return on sales — 4% compared with 15% in 2024 — reflected the “unusually strong” valuation uplift recorded in the previous year when a number of properties were reclassified from stock to investment assets.
The group continued to progress major schemes across its portfolio. At Dove Valley Park in Foston, two further industrial units were delivered as part of a wider deal, while additional unit sales were completed at Fairham Business Park in Clifton.
Clowes also invested in new industrial stock at its Stud Brook site in Castle Donington, choosing to retain the units to strengthen its banking position and secure long term rental income.
Derby County Football Club, owned by the group, recorded another year of progress in the Championship, supported by a new coaching team, improved on pitch performance and successful player sales during the January transfer window. Football related turnover rose to £28.4 million, although the division still posted an operating loss of £9.3 million.
Property sales were £108 million, rental income £8 million, ticketing (football) £8.5 million, league and broadcasting revenue £10 million and sponsorship just under £2 million.
Clowes said the group continued to advance its environmental, social and governance strategy, disposing of older properties that no longer met its criteria and replacing them with new, more sustainable buildings constructed to high BREEAM (Building Research Establishment Environmental Assessment Method) standards.
Further investment was made in renewable energy, including a second installation of solar panels at Derby County’s training ground.
Chair David Clowes wrote: “This year has not been without its challenges and I expect 2025–26 to be equally challenging. However, with continued effort from our dedicated team and a strong balance sheet, I look forward to meeting those challenges head on.”
The group’s main activities are the acquisition of land, buildings and property to achieve development sales. Properties are rented out while the group looks for appropriate opportunities and permissions to develop individual sites.
The average number of people employed by the group was 269, with 70 of these professional players and apprentices and 155 non playing staff.
The wages and salaries bill was £31 million.
(Photo: Clowes Developments).
