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Countryside boosts profit by 200%

Countryside has increased profit by more than 200% as revenue for the year rose by a half.

The housebuilder increased completions by a third over the 12 months to the end of September, clocking up 5,385 against last year’s 4,053.

Revenue was up from £988m last year to £1.5bn, with operating profit rising to £167.3m from £54.2m.

The mixed-tenure specialist said its return on capital employed had improved from 7.1% in 2020 to 18.6%, while margin had improved from 5.5% to 11%.

Countryside said it had forward sold 48% of its 2022 pipeline, including £426m from private sales.

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