Updates

McCarthy & Stone - 40 new sites added

June 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Solid maiden interims from retirement homebuilder McCarthy & Stone, which reported revenue up 33% to £250m, with underlying pretax profit increasing 23% to £39.1m. Normally it would make c. one third of profit in H1 but due to start-up costs of the three new regional offices (which reduced operating margins by 3% to 16%) it will be below that this time.The group added 40 new sites to its land bank, bringing in 1,700 plots and taking the total to 10,800 or 5.6 years supply. All planning is in place to cover this year and next year’s expected output and there’s enough land to deliver its 2019 targets of reaching 3,000 units per year.The second half has started strongly with forward orders up 26% at & ...

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