<p>St Modwen Homes has reported a 49% increase in profits for 2016, contributing £15.3 million to the group’s residential profits of £27.1 million and overall profit before tax of £60.8 million.</p> <p>The firm completed 485 units in the year, up from 315 in 2015. A jv with Persimmon delivered 402 units (652 in 2015). Overall average sales rate was 0.8 per outlet per week.</p> <p>Dave Smith, managing director at St Modwen Homes, said: “Currently we operate from 15 sales outlets located across the UK whilst new sites include the delivery of 300 properties at Hendrefoilan in South Wales and the delivery of 85 properties on the former RAF Uxbridge site at St. Andrew’s Park in Uxbridge; our first family houses to be built in London. </p> <p>“The next 12 months look very promising for St Modwen Homes as we continue to develop our portfolio and cement our position as a quality UK housebuilder.”</p>