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McCarthy warns housing markets are tougher than expected
09:58 09 Sep 2005
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McCarthy & Stone said it expects to report a satisfactory set of results for the full year to end-August - adding that the market continues to be tougher than it has experienced in recent years.
In a pre-close trading update, the house builder said it had sold 1,983 units during the year, against 2,055 previously and achieved an average selling price of approximately £163,500, an increase of 6% on the last full year.
Finished stock and work in progress at the year end amounted to 4,295 units, compared to 4,194 units, and the group is carrying forward 255 reservations, against 440.
McCarthy & Stone added it continues to believe that the fundamentals of the housing market remain sound and that it is well placed to benefit when the market improves.
The group has ended the year with a strong balance sheet.
Results for the year to the end of August 2005 will be announced on 3 November.
In a pre-close trading update, the house builder said it had sold 1,983 units during the year, against 2,055 previously and achieved an average selling price of approximately £163,500, an increase of 6% on the last full year.
Finished stock and work in progress at the year end amounted to 4,295 units, compared to 4,194 units, and the group is carrying forward 255 reservations, against 440.
McCarthy & Stone added it continues to believe that the fundamentals of the housing market remain sound and that it is well placed to benefit when the market improves.
The group has ended the year with a strong balance sheet.
Results for the year to the end of August 2005 will be announced on 3 November.
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