Retirement housebuilder McCarthy & Stone has recorded a 32% increase in revenue in the half year ended 29 February, ahead of reporting its H1 results on 19 April.
The company posted a revenue hike of £250m from last year’s £189m and forward sales 39% ahead at £200m, up from £144m.
Sales increased by 19% to 923 units, which was driven by 36 new sales outlets.
McCarthy & Stone has secured 40 new development sites since September 2015, representing around 1,700 units, bringing its total landbank to 10,8000 plots.
Terms have also been agreed on a further 1,600 plots.
In a separate statement the company announced it will enter the FTSE 250 on 21 March following an IPO in November 2015.
Chief executive Clive Fenton said: “During the period we have delivered our first sales from our new North London region, which has now opened six developments, and the investment we have made to establish the three additional regional offices which opened on 1 September 2015 is beginning to bear fruit.
“Each of the new regions now has high calibre senior management teams in place with wide-ranging experience from across the housebuilding sector. We are carrying a strong order book into the second half, with forward sales well ahead of last year.
“We remain on track to deliver our 2016 targets in line with the expectations set for investors at the time of our IPO and, as a result of the land acquired in the first half, now have a sufficient land bank to deliver fully our growth objective of building and selling more than 3,000 new homes per annum by 2019.”
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