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BRIEF-Property developer Countryside says markets recovered post Brexit vote
November 29, 2016 / 7:21 AM / a year ago

BRIEF-Property developer Countryside says markets recovered post Brexit vote

Nov 29 (Reuters) - Countryside Properties Plc

* Full year results

* Private net sales rate maintained at 0.78 (2015: 0.76)

* Open sales outlets of 43, up 48 pct(2015: 29)

* Private average selling price of 465,000, stg up 21 pct (2015: 385,000 stg)

* Group private forward order book of 225.4 mln stg, up 64 pct (2015: 137.5 mln stg)

* completions: 783 homes (2015: 653) up 20 pct

* Housebuilding highlights- adjusted operating profit: 66.8m stg (2015: 51.6m stg) up 30 pct

* Housebuilding highlights- land bank: 19,322 plots (2015: 18,410) of which 89 stg has been strategically sourced

* Current trading remains robust with sales rates and values above year end numbers

* Markets in which we operate have recovered post EU referendum and we continue to trade well

* Working on a potential bid pipeline of a further 33,515 plots

* Reservations remain robust and any softness in higher price points has been more than compensated for by our lower priced homes and our partnerships division

* Have started year with a record private forward order book up 64 pct and continued strong demand

* We have recommended our first dividend of 3.4 pence per share

* Have set a target dividend pay-out ratio of 30 per cent of adjusted earning

* On a reported basis, revenue increased 23 per cent to 671.3 mln stg (2015: 547.5 mln stg) Source text for Eikon: Further company coverage:

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