Private rented sector (PRS) specialist Sigma Capital Group has achieved "another landmark year" in its final results for 2015.

Revenues at the Edinburgh-based business increased by 74% to £6.72 million in 2015, up from £3.87 million in 2014.

In addition, pre-tax profits rose to £2.14 million (2014:£0.12m) while operational profits surged 877% to £1.82m.

David Sigswoth, Chairman, said the results are due to the benefits of the company's PRS strategy.


"We achieved two key milestones in 2015. Firstly we started our second phase of PRS homes, with a new fund, UK PRS Properties, which is principally backed by the Kuwait Investment Authority and institutional shareholders from the State of Kuwait," he said.

"Secondly we launched our own self-funded PRS portfolio, having raised £20m of equity, and started the first phase of delivery in December. The creation of our own portfolio of PRS assets marks an important step in Sigma's development. It will significantly enhance our returns from our PRS infrastructure as well as generate material additional long-term recurring income.

"We are targeting a self-funded portfolio of c. 550 family homes, with a total development value in excess of £60m by the end of 2017."

(LM)