McCarthy & Stone exceeds targets

Retirement homes builder McCarthy & Stone has exceeded its sales targets for the six months to 28 February.

The group sold 831 units, an increase of 34% on the year-ago figure of 619. The average selling price was boosted 19% to £122,000.

In a trading statement issued to the City, McCarthy's board states that forward reservations are very comfortably ahead of the position last year.

Rival housebuilders are currently delivering concrete evidence of their performance in 2002 in terms of pre-tax profit and turnover. However McCarthy's half-year fell on 28 February and the group is due to report its six-month performance on 29 April.