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Trading statements

McCarthy & Stone on track for in-line FY

07 March 2017 07:46

McCarthy & Stone on track for FY delivery in line with market expectations.

In a half-year trading update, it said trading conditions remained stable with sales lead indicators ahead of the prior year.

The company reiterated that H1 2017 trading had been constrained by the lower forward order book brought into the year.

Half-year revenue was seen at about £238m, from £250m. Total legal completions were 866 units, from 923.

Gross average selling price rose 1% to £260,000, from £257,000, with further increases expected in the second half of the year.

This reflected further improvements in the quality and location of the developments the Group is now bringing to market.

There were net reservations of 1,084 during the period, versus 1,132 a year ago, and total forward order book including legal completions of c.£418m, from £440m.

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