| Item | Aug 2015 result | % rise year on year |
|---|---|---|
| Pretax profit | £80.9m | 41.7 |
| Home sales | 1,922 | 15 |
| Average price | £239,000 | 12 |
| Revenue | £485.7m | 25 |
Retirement house builder McCarthy & Stone has reported a 41.7% increase in pretax profits to £80.9m in the year to the end of August.
The company sold 1,922 homes in the year, a 15% increase on 2014, at an average price of £239,000, 12% higher than the previous year.
The increase in both sales and prices lifted revenues by 25% to £485.7m.
The results included £177m of forward sales, up from £129m in 2014.
The company said it remained on track to double to more than 3,000 home sales per year in the medium term after acquiring 90 new development sites, lifting its land bank to 10,087 plots.
It now plans to increase its investment in land further, to £2.5bn over the next four years, up from £2bn.
Group chairman John White said: “The strong fundamentals for the specialist retirement market ensure McCarthy & Stone is well-positioned for the future and I remain confident of further progress in 2016 and beyond.”
