Pocket Living drops to £19m loss

By Joey Gardiner2022-08-01T10:34:00

London residential developer in talks over financial restructure after scheme delays

Specialist first time buyer developer Pocket Living has fallen to a pre-tax loss of £18.9m after the business encountered build and planning problems on a number of its developments.

In accounts for the calendar year 2021, published on Companies House, Pocket Living Ltd, the London-based developer of “affordable” small homes, reported the group loss on revenue of just £17.6m, down almost 70% from £56.2m the year before.

The loss is the third consecutive year of losses for the firm, which reported a £6.3m loss in 2020, as the pandemic hit, and a loss of £0.9m in 2019.

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