13th Apr 2016 06:58
LONDON (Alliance News) - Housebuilder and regeneration company Countryside Properties PLC on Wednesday said its home sales improved in the first half, complemented by a substantial rise in the average selling price.
Countryside, which listed in London in February, said its completions in the half to the end of March rose 15% year-on-year to 1,095 units, up from 949 units a year earlier. The average private selling price for the properties surged, up 47% to GBP508,000 from GBP345,000 thanks to an improved sales mix.
Net sales per active outlet per week remained flat at 0.8 in the half. Forward sales were higher, up 4.3% to GBP205.3 million from GBP196.7 million.
Countryside said it is firmly on track to meet its medium-term sales, margin and return on capital employed targets, with customer demand remaining strong, underpinned by continued government support for the housebuilding sector.
"We remain confident we are on track to make further progress for the full year and to continue to build on our success now as a public company," said Ian Sutcliffe, Countryside's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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