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McCarthy & Stone PLC (MCS.L)

MCS.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

McCarthy & Stone starts new financial year with a strong forward order book
Tuesday, 14 Nov 2017 02:00am EST 

Nov 14 (Reuters) - Mccarthy & Stone Plc :TOTAL DIVIDEND ‍5.4 PENCE PER SHARE VERSUS 4.5 PENCE PER SHARE YEAR AGO.FY REVENUE ‍​ 660.9 MILLION POUNDS VERSUS 635.9 MILLION POUNDS YEAR AGO.MCCARTHY & STONE PLC - ‍ACHIEVED A STRONG RESULT IN H2 AND DELIVERED AN IMPROVEMENT IN BOTH MARGINS AND VOLUMES COMPARED TO FIRST HALF OF FY17​.MCCARTHY & STONE PLC - ‍GROUP STARTS NEW FINANCIAL YEAR WITH A STRONG FORWARD ORDER BOOK AND A ROBUST BALANCE SHEET​.FY PRETAX PROFIT 92.1‍​ MILLION POUNDS VERSUS 92.9 MILLION POUNDS YEAR AGO.MCCARTHY & STONE PLC - ‍ARE ON TRACK TO OPEN C.80 SALES OUTLETS AND DELIVER MORE THAN 65 FIRST OCCUPATIONS IN FY18​.FY LEGAL COMPLETIONS 2302 ‍​ VERSUS 2,296 YEAR AGO.FY AVERAGE SELLING PRICE ‍​273K POUNDS VERSUS 264K POUNDS YEAR AGO.  Full Article

McCarthy & Stone says forward order book up by 241 mln stg since March 1
Wednesday, 5 Jul 2017 02:21am EDT 

July 5 (Reuters) - Mccarthy & Stone Plc ::Trading update.Underlying trading conditions remained stable during period from march to date.Saw some slowing of sales momentum experienced in recent weeks due to uncertainty created by general election.Has continued to make steady progress in increasing its forward order book and reservation rates have remained broadly in line with prior year.Seen upward momentum in average selling prices and margins since 1 March.Average selling prices have exceeded 280,000 stg per unit during period (2016: 265,000 stg).Total forward order book has increased by 241 mln stg (2016: 219 mln stg) since 1 March.Total forward sales including legal completions to date are now in line with prior year at 659 mln stg (2016: 659 mln stg).In light of current uncertainty in market however, it is possible that there may be a modest impact on timing of conversion of existing reservations into completions.Remains confident of delivering 80 new sales releases next financial year, a c.80 pct increase over 44 sales releases forecast for current year.  Full Article

Mccarthy & Stone says to appoint John Tonkiss as COO
Tuesday, 30 May 2017 02:00am EDT 

May 30 (Reuters) - Mccarthy & Stone Plc ::Appointment of chief operating officer.‍John Tonkiss will be appointed as group's chief operating officer, with effect from June 1, 2017​.Tonkiss was previously national operations director at group​.  Full Article

Mccarthy & Stone H1 pre-tax profit down at 21.8 mln pounds
Wednesday, 5 Apr 2017 02:00am EDT 

Mccarthy & Stone Plc : H1 revenue of 238.2 million stg versus 250.2 million stg year ago . H1 profit before tax of 21.8 million stg versus 29.0 million stg year ago . Hy legal completions of 866 versus 923 year ago . Says group reiterates guidance that full year outturn is expected to deliver in line with market expectations . Interim dividend per share 1.8 pence versus 1.0 pence year ago . Further c.16 new site starts expected by end of Q3 FY17 (FY16: 9) thereby providing a high level of confidence in outturn for FY18 and beyond .Remains confident of delivering its strategic growth objective of building and selling more than 3,000 units per annum.  Full Article

Mccarthy & Stone says trading in line with expectations
Wednesday, 25 Jan 2017 02:00am EST 

Mccarthy & Stone Plc : Since its fy16 year end results, announced on 15 november 2016, group has continued to experience normal trading conditions . Year to date reservations are running ahead of prior year and have contributed a further £206m of revenue to group's forward order book .Trading outlook for year remains in line with board's expectations.  Full Article

McCarthy & Stone full-year revenue rises
Tuesday, 15 Nov 2016 02:35am EST 

McCarthy & Stone Plc : Final results . 64 new sales outlets opened during period (FY15: 51), contributing to a 10% increase in net reservations above FY . Delivered strong growth in FY notwithstanding impact of weakness in secondary housing market in July and August following leave vote . Sales leads from new enquiries have increased and first time visitors to developments have also been ahead of prior year . Underlying profit before tax 2 increased by 19% to £105.0m (FY15: £88.4m) . Revenue increased by 31% to a new record of £635.9m (fy15: £485.7m) . Legal completions increased by 20% to 2,299 units (fy15: 1,923) . Net average selling price increased by 8% to £259k (fy15: £239k) . Strengthened financial position, with £52.8m of net cash 4 (FY15: £44.4m of net debt) at year end . Final dividend of 3.5 pence per share in accordance with previous guidance given within our half year results . Sufficient land with detailed planning consent to deliver all targeted sales to FY18 and sufficient land under control to deliver all targeted sales to FY19 . Carrying a forward order book 8 of c.£114m into new financial year, which was lower than previous financial year (fy15: £131m) . Over first ten weeks of new financial year, reservations have been stronger and cancellation rates have returned to more normal levels.  Full Article

Shares in McCarthy & Stone open about 12 pct lower on trading update
Friday, 2 Sep 2016 03:07am EDT 

: Shares in McCarthy & Stone open down about 12 after company says housing cancellations rise after Brexit vote Further company coverage: [MCS.L] (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

McCarthy & Stone says housing cancellations rise post Brexit vote
Friday, 2 Sep 2016 02:00am EDT 

Mccarthy & Stone Plc : Full year trading update . Fy legal completions increased by 20pct to 2,299 units (2015: 1,923) . Fy revenue increased by 31pct to c.£635m (2015: £486m) . Fy net average selling price increased by 8pct to £259k (2015: £239k) . As anticipated in our trading update on 29 june, we have required somewhat higher levels of incentives in order to deliver our volume out-turn . Expect to announce at least a c.100 bp improvement in underlying operating margins in second half of year versus first half . Should enable group to increase its fy underlying profit before tax 1 by c.19pct . New reservations have been at a lower level than we saw in first nine months of financial year and cancellations have been at higher levels . Too early to judge medium term impact of Brexit, prolonged secondary housing market weakness could impact ability to deliver fy volume growth target . Has been some improvement in customer sentiment during month of august .Too early to predict at this stage whether these improving conditions will persist into new financial year.  Full Article