North East property, housebuilding and mining firm the Banks Group is continuing to invest in its future growth prospects after reporting a healthy set of annual results.
The County Durham-headquartered firm has reported turnover from continuing operations across the group of £43.4m for the year ended 30 September 2025, up from £26.1m in the previous 12 months, and a combined operating profit across all its businesses of £8.4m, compared to an operating loss of £5.7m in 2024.
Founded as HJ Banks & Company Limited in Tow Law by Harry Banks OBE DL, who remains chairman and chief executive today, the family-owned firm is celebrating its 50th anniversary this year and has always retained its headquarters in County Durham.
Harry Banks says: “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.”
Launched in 2023, Banks Homes has been developing a portfolio of high-quality residential sites across North East England and Yorkshire.
Development is now well under way at sites in West Rainton, Yarm, Wynyard and Hambleton in North Yorkshire, and with work set to start in several new locations in the coming months, the business is aiming to be delivering an annual target of around 200 new homes a year by the end of 2027 and then 400 new homes a year by 2031.
Banks Homes operates independently from, but alongside, the Group’s property development arm, Banks Property, which increased its turnover from £8.4m to £10.8m during the last financial year.
Turnover from the Group’s mining business, Banks Mining, increased from £16.6m to £16.9m through its continuing strong customer relationships and long-term contractual commitments.
The Banks Group has also continued to deliver grant funding to dozens of community groups and environmental projects across its operating areas during 2025.
Harry Banks continues: “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.”