Vantage Design and Build went into administration earlier this month following a payment row with Inland on four sites it was working on.
In a trading update this morning, Inland said: “During the year, a contractor engaged by Inland Homes on four of its development sites ran into financial difficulties and has entered into administration.
“In response, Inland Homes, through its expanded development capabilities, has taken full control of the relevant sites and of all related construction activity that was formerly in the hands of the contractor.
“This situation resulted in the delay of 23 legal completions which will now defer into the current financial year.
“As a result of the reduced number of legal completions and further costs to be incurred to complete on the four development sites, the Group’s profit before revaluation of investment properties and tax is expected to be marginally lower than the market consensus forecast of £15.9 million.”
Inland has taken construction in-house to “‘self-deliver’ our homes, rather than engaging main contractors on our schemes.”
The company added: “This strategic decision was taken with a view to enabling the Company to have full control and more certainty over delivery, as well as allowing our homes to be built more competitively.”