Countryside sees "excellent" first half growth

May 16, 2019
<p><span>Countryside says it has achieved “excellent growth” in its first half, with revenue rising 27% to £507 million on a 43% lift in total completions against the equivalent period in 2018.</span></p> <p><span>During the six months to March 31 2019, the home builder and regeneration partner achieved 2,362 completions in total (combining its Housebuilding and Partnerships division). At the same time, its pre-tax profit dipped from £</span><span>72.3 million in HY 2018 to £70.3 million.</span></p> <p><span>Countryside said the main growth drivers in the first half were its affordable completions - up </span><span>80% to 938 homes following the acquisition of housebuilder Westleigh - and its private rented sector homes, increasing 68% to 608 homes.</span></p> <p><span>The private average selling price of the properties fell 4% to £377,000 as a result of increased activity in Countryside’s North and Midlands businesses “where average selling prices are lower”. </span></p> <p><span>Its net reservation rate was at the “top end” of Countryside’s target range at </span><span>0.86, a minor dip on HY 2018’s 0.87.</span></p> <p><span>Total completions in the company’s Housebuilding division dropped <span>2% to 473 homes. Countryside said this was in line with its expectations of new sales outlet openings and completions being weighted to the second half.</span></span></p> <p><span>Private completions …

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