LEGAL & General (L&G) reported a loss of more than £20m in its modular home building division last year.
L&G Homes Modular reported an operating loss of £20.6m last year. In 2017, the firm reported an annual loss of £46.2m.
L&G invested £23.2m in the modular homes venture during the year. It has injected more than £90m into the business since it was established in 2015.
The company aims to build 3,000 homes a year using construction methods utilised in manufacturing industries such as aerospace and automotive.
(c) 2019 City A.M., source Newspaper