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mccarthyandstone.co.uk

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mccarthyandstone.co.uk

Full Year Result 2016

Financial Summary

  • Underlying profit before tax increased by 19% to £105.0m (2015: £88.4m)
  • Revenue increased by 31% to a new record of £635.9m (2015: £485.7m)
  • Legal completions increased by 20% to 2,299 units (2015: 1,923).
  • Net average selling price increased by 8% to £259k (2015: £239k)
  • Adjusted underlying earnings per share increased by 9% to 16.1p (2015: 14.8p)
  • Strengthened financial position, with £52.8m of net cash (2015: £44.4m of net debt) at the year end. 
  • Improved capital turn of 1.2x (2015: 1.0x) supported by key strategic initiatives to increase sales rates, reduce development time and implement build efficiencies
  • The Directors are proposing a final dividend of 3.5 pence per share in accordance with previous guidance. This follows the interim dividend of 1.0 pence per share giving a total dividend for the year of 4.5 pence per share
  • Re-joined the main market of the London Stock Exchange in November 2015 and re-admitted to the FTSE 250 in March 2016
  • Sufficient land under control to achieve strategic objective of building and selling circa 3,000 units per annum by 2019

Our Market

Compelling market demographics

Considerable addressable market for retirement housing today, with the demographic set to grow rapidly. Only age group where rates of home ownership have risen in recent years1.

Please click on the image to enlarge.

Compelling market demographics

Financial Highlights

Revenue

£635.9m

(2015: £485.7m)

Net Average Selling Price

£259k

(2015: £239k)

Underlying profit before tax

£105.0m

(2015: £88.4m)

Underlying Basic EPS

16.1p

(2015: 14.8p)

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