Banks Group ‘well positioned’ for growth

A property, housebuilding and mining company is increasing investment in future growth after reporting a return to operating profit.

The Banks Group reported turnover from continuing operations of £43.4 million for the year ended 30 September 2025, up from £26.1 million the previous year.

The family-owned firm also recorded a combined operating profit of £8.4 million across its businesses, compared with a £5.7 million operating loss in 2024.

Founded in Tow Law by Harry Banks OBE DL, who remains chairman and chief executive, the group is celebrating its 50th anniversary this year and continues to be headquartered in County Durham.

Harry 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 Homes, launched in 2023, is developing residential sites across the North East and Yorkshire, with work under way in West Rainton, Yarm, Wynyard and Hambleton.

The housebuilding arm is targeting around 200 new homes a year by the end of 2027, rising to 400 annually by 2031.

Banks Property also increased turnover from £8.4 million to £10.8 million, while Banks Mining reported a rise from £16.6 million to £16.9 million.

The group has continued to provide grant funding to dozens of community and environmental projects across its operating areas.

Harry added: “We have recruited an experienced team to deliver our goals for Banks Homes and are very pleased with the progress that has been made so far.

“Our first three Banks Homes sites are substantially underway, while we have successfully launched our fourth site and have a healthy pipeline of opportunities that make us confident about the business’s prospects.

“Banks Property is working on a large volume of property development projects, and despite long-term issues within the current planning system that can cause significant delays in decisions being reached, it is continuing to target planning consents at the earliest possible opportunity for all of them.

“Banks Mining remains focused on delivering for its customers through dependable planning, safe operations and a collaborative approach, and is well positioned for the year ahead.

“The board remains committed to the Group’s longstanding Development with Care approach, which is fundamental to how we work and how we deliver tangible, long-term benefits to the communities in which we operate.

“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.”

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