McCarthy stays confident

Posted on December 1st, by editor in Caring Times. No Comments

Retirement housing builder McCarthy & Stone is confident of continuing its strong performance, despite uncertainty in interest rates and increased difficulties in building on brownfield sites. Chairman John McCarthy told an annual meeting of shareholders in December that the number of people viewing the company’s homes had showed “a modest slowdown” after rises in the interest rate in September and November, but that the overall position remained healthy, especially in the north of England. “We expect the market to remain sound and believe in our ability to perform, even if the markets become more variable,” Mr McCarthy said. In November, the company reported a 37% rise in pre-tax profits for the year to August to £39.1m, well above market expectations. Sales had risen by 15% to £123m. However, recent delays in obtaining planning permission to build on brownfield sites had put upward pressure on the prices of retirement flats.

Comments are closed.

Latest blog posts

End of life care – care homes can do it well

By guest blogger Professor Keri Thomas,

Clinical director, National GSF Centre for End of Life Care

News that care homes could, based on current trends, overtake...

The DTOCs dashboard dilemma

By guest blogger JEF SMITH

The Department of Health refers to delayed transfers of care – the issue of people not being able to move...

From where I stand . . .

By Caring Times editor GEOFF HODGSON

A group of residents’ families have criticised the Care Quality Commission’s refusal to review the ‘good’ rating it awarded to...