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McCarthy & Stone makes high margin
16:30 05 May 2004
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Mouth-watering returns continue to flow from McCarthy & Stone,
the UK's biggest player in the specialist retirement homes
sector.
The latest interim turnover of £110m (£102m) in the six months to 29 February 2004 produced a pre-tax profit of £44m (£40m). Chief executive Keith Lovelock said: "The secret is that you keep your head down and beaver away."
Turnover was 9% higher than in the comparable period last year thanks to the average selling price rising 16% to a new high
of £142,000.
This increase was more than enough to cover a decline in units sold, down from 830 to 780.
Sparkling performances were noted in three regions: the North West; the Midlands; and Scotland. The assisted living division "performed soundly despite a low level of stock availability".
The latest interim turnover of £110m (£102m) in the six months to 29 February 2004 produced a pre-tax profit of £44m (£40m). Chief executive Keith Lovelock said: "The secret is that you keep your head down and beaver away."
Turnover was 9% higher than in the comparable period last year thanks to the average selling price rising 16% to a new high
of £142,000.
This increase was more than enough to cover a decline in units sold, down from 830 to 780.
Sparkling performances were noted in three regions: the North West; the Midlands; and Scotland. The assisted living division "performed soundly despite a low level of stock availability".
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