StockMarketWire.com - Homebuilder Countryside said pre-tax profit climbed as revenue increased by more than a fifth thanks to a jump in completions. For the year ended 30 September 2019, pre-tax profit rose to £203.6m from £180.7m on-year and revenue 21% to £1.2bn.
Completions rose 33% to 5,733 homes, but the average selling price fell 9% to £369,000 as the homebuilder shifted its geographical focus towards regions outside of London.
The forward order book was up 30% to £1.2m.
A final dividend of 10.3p per share was declared, taking the total dividend for 2019 to 16.3p a share, up from 10.8p a share. 'Net reservation rates for the first seven weeks of the year are ahead of the same period last year. With new site openings in the first half, we expect delivery to be weighted to the second half,' the company said.
Story provided by StockMarketWire.com
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