Strong growth for McCarthy & Stone
Retirement home builder McCarthy & Stone enjoyed strong growth in sales in the six months to the end of February.
The first set of results since the group's floatation in November saw revenue up 33 per cent to £250.2 million, but pre-tax profit was slightly down from £29.1m to £29m.
McCarthy & Stone, which has developments across the Black Country and Staffordshire, saw legal completions up 19 per cent from 776 to 923 with net average selling price rising 12 per cent to £253,000.
The company, which entered the FTSE 250 last month, has seen a strong start to second half of its year with forward order book up 26 per cent to around £306m.
Group chairman John White said: "The group has made strong progress in the period with its strategy of investment to create an efficient and scalable business capable of building and selling more than 3,000 units per annum.
"As a result of our strong performance since listing, I am pleased to be able to announce an interim dividend of 1p per share which will be paid on May 31 to holders of ordinary shares on the register at the close of business on April 29."