A CGI of a McCarthy & Stone development in St Albans
The leading retirement housebuilder saw revenue rise 4% to £660m for the year ended 31 August.
McCarthy & Stone has bounced back to report a rise in revenues after suffering from a post-EU referendum hangover.
The leading retirement housebuilder saw profits tumble 25% in the first six months of the year due to Brexit uncertainty.
However, in its latest trading update published today (6 Sep), the group reported a 4% rise in revenues for the year ended 31 August to £660m.
In a statement, the company said: “The group delivered a consistent improvement in trading throughout the year despite the increased uncertainty in the secondary market following the EU Referendum result in June 2016 and the General Election in June 2017.
“Total legal completions were in line with the prior year at 2,302 and forward sales have steadily improved throughout the year despite the significantly lower number of new sales releases and first occupations."
McCarthy & Stone is the UK's leading retirement housebuilder with around a 70% share of the owner-occupied market.
The group has sold over 54,000 properties across c.1,200 retirement developments since 1977 and is renowned for its focus on the needs of those in later life.
It re-joined the Main Market of the London Stock Exchange in November 2015 and re-entered the FTSE 250 following its quarterly review on 21 March 2016.
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