North East property and mining company Banks Group has returned to profit after its turnover rose sharply. The County Durham group has published accounts which show turnover of £43.4m, up from £27.1m seen a year earlier. The accounts, covering the year to the end of September 2025, report operating profit of £8.4m, having been a loss of £5.1m in the previous year.
Within the group, Banks' mining division reported a turnover of £16m, there was £15.5m from Banks Homes and £10.8m from Banks Property.
Founder Highlights Planning System Delays
Founder Harry Banks used the report to highlight how "the current planning system is unduly slow and unpredictable with significant delays across the UK leading to shortages in land available for much-needed new housing." He added that Banks was investing in its operations to provide future growth.
The family-owned firm is celebrating its 50th anniversary this year and has retained its headquarters in County Durham since being founded in Tow Law in 1976.
Commitment to Community and Environment
Mr Banks said: "We're immensely proud of our County Durham and North East heritage, which has been the foundation on which our growth, diversification and success has been based over the last 50 years. Our performance in 2025 was ahead of the previous year as we focussed on the future growth prospects for the business.
"We have continued to invest in our new house building arm, Banks Homes, which is well placed to deliver future growth and earnings, and believe we will deliver good growth and earnings in the coming years from the investments we are making across all our operations."
Banks said it was working on housebuilding developments in West Rainton, Yarm, Wynyard and Hambleton in North Yorkshire. It was aiming to deliver an annual target of around 200 new homes a year by the end of 2027 and then 400 new homes a year by 2031.
The Banks Group has also continued to deliver grant funding to dozens of community groups and environmental projects across its operating areas during 2025.
Mr Banks added: "As we look back on our 50 years in business, we are proud to have supported many thousands of charitable, community and environmental causes and to have helped to deliver long-lasting positive changes that make a real difference to people's lives."
The group's headcount fell slightly during the year to an average of 168, but its wage bill rose to £11.9m, having been £10.7m in the previous year.
Work has started on 109 new homes at the Cornfields site on the edge of Yarm.
