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Colchester Amphora Group’s Annual Report shows increased dividend payment to Colchester Borough Council

The group’s performance has resulted in an increased dividend payment

Date issued: 12 August 2020

The Group of Amphora companies has today published its 2019/20 Annual Report, which highlights a strong second year of trading for the company despite the extreme challenges brought about by the outbreak of the coronavirus pandemic early in 2020.

The report reviews the achievements of Colchester Commercial Holdings Ltd (CCHL), the holding company for three subsidiary companies: Colchester Amphora Energy Ltd (CAEL), Colchester Amphora Homes Ltd (CAHL) and Colchester Amphora Trading Ltd (CATL). This year, the group’s performance has resulted in a dividend payment of £394,000 to its sole shareholder Colchester Borough Council, up on its 2018/19 payment of £286,000.

Cllr Nick Barlow, Board Chair of Colchester Commercial Holdings, said: “It is heartening to see growth across all parts of the business, in line with CCHL’s Strategic Plan. The group has demonstrated the added value it can bring through its ability to attract external funding, increase commercial opportunities and boost the local economy and jobs.

“The Amphora companies will be at the heart of future growth and innovation in delivering services and supporting Colchester Borough Council through the challenging times ahead. I look forward to embarking on our next year of opportunity.”
Group highlights for the year ending 31 March 2020, include:
  • attracting £4.4m of income for its products and services, a 5% increase on the previous year
  • securing a £3.3 million grant under the Local Full Fibre Network programme to roll out new ultrafast broadband networks across the borough
  • design and delivery of the £ 27.7 million Sports Park at Colchester Northern Gateway
  • maintaining an income stream of £3.2 million from the borough’s estates management
  • sustaining its Helpline service throughout the Covid-19 pandemic to support vulnerable people in their own homes
  • testing and installing boreholes to supply water to the carbon-cutting District Heat Network at Colchester Northern Gateway to generate around 75% of the heating and hot water supply for the area’s new homes and businesses.
  • securing new planning approvals to improve the quality and availability of homes for private sale and affordable rent.

Adrian Pritchard, Managing Director of Colchester Commercial Holdings Ltd, said: “With an increased dividend payment this year, the Amphora group has shown once again that it is not only able to rise to the challenge of delivering dividends, but is able to increase the dividend year on year.”

CCHL’s companies share an ethos to deliver against the council’s strategic priorities of health and wellbeing, economic growth, and improved homes and infrastructure. CCHL is structured to ensure profits are returned to the council for the benefit of the people of the borough.

Read the report and find out more about CCHL at www.colchesteramphora.com
 

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