3rd Mar 2016 08:15
LONDON (Alliance News) - Retirement housebuilder McCarthy & Stone PLC on Thursday said it sold more homes at higher prices in its first half, boosting its revenue and leaving its forward sales position ahead.
The company, which will join the FTSE 250 later this month, said its legal completions in the half to the end of February rose 19% year-on-year to 923 units, up from 776 units. It sold those units for an average of GBP253,000 apiece, up from GBP226,000 a year earlier.
Revenue for the half increased to GBP250.0 million from GBP189.0 million and the company's forward sales position at the end of February was GBP200.0 million, 39% ahead of the comparable point a year before.
The company said its land bank now contains 10,800 lots, up from 9,460 at the end of its 2015 financial year in August.
It remains on track to hit its target of building and selling at least 3,000 units a year by 2019 and said trading was in line with its expectations.
The company will publish its interim results on April 19.
Shares in the company were down 2.7% to 265.30 pence early Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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