McCarthy & Stone is stepping up its land-buying programme to prepare for an expansion of its building activities over the next few years.
The retirement housebuilder intends to increase its yearly completions of retirement flats to at least 2,000 from 1,536 in 1999. It is worried about increasing competition for brownfield land.
The company announced annual pretax profit up 37% to £53.5m on turnover up 20% to £147m.
Financial Times 09/11/00 page 38
The Times 09/11/00 page B13
