Retirement builder benefits from higher prices

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

McCarthy and Stone, the retirement housebuilder, has reported a 19 per cent drop in the number of flats sold in the six months to February 28, 2001. The lower volume was offset, however, by a rise in the average selling price from £85,900 to £94,000. The largest rise was in the South-East, where prices rose 25 per cent. Turnover fell from £65.5m to £58.5m and pre-tax profits from £20.2m to £18.6m. The company was positive about the future. It noted interest rates were falling, that enquiries had shown a ‘marked improvement’, that it had been able to continue undiminished with its land buying programme, and that there was an increasingly favourable demographic profile for its products.

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