28th Mar 2018 12:46
Revenue for the six months to December 31 nearly doubled to
The housebuilder said its current forward order book stood at
Net asset value rose to
During the half year, the company said it sold 338 building plots, up from 177 a year earlier, and competed the sale of 96 private homes, compared to 87 a year before.
The company raised its interim dividend by 30% to 0.65p from 0.5p.
"This is an encouraging set of results, delivering NAV, profit and revenue growth, and ultimately validating the significant investment we have made in our housebuilding operations over the past twelve plus months. We expect further benefits to be seen as we improve the gross margin on our new developments and continue to bring in sector specialists to support our ambitious growth targets," said Chief Executive Stephen Wicks.
"Despite some near term headwinds, the overall outlook for the sector remains favorable, especially at the price point at which we operate, and as a business we believe we are in a strong position to continue delivering long term value for our shareholders," Wicks added.
Separately on Wednesday, the company said it has submitted an outline planning application at Cheshunt Lakeside in Broxbourne,
Inland Homes acquired the original 13-acre site, which included Tesco's former headquarters, by way of a 50/50 joint venture with a third party in July 2016, and has since assumed control of a number of additional parcels of land which form part of this application.
Shares in Inland Homes were down 4.8% at
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