<p><span class="font-resized font-resize-plus-2">McCarthy &amp; Stone and Telford Homes have reported stable market conditions, with McStone seeing sales increase over the past five weeks after difficulties experienced after the EU referendum.</span></p> <p>Reporting on the six months ending February 28 2017, McStone reiterated that its first half had been constrained by the lower order book it carried into the year following market uncertainty triggered by the result of the referendum, as well as the “the anticipated weighting of legal completions from higher margin sites into the second half of the year and the lower number of sales releases during the period.”</p> <p>As a result, legal completions dropped 6% to 866 against the equivalent period last year. McStone’s gross average selling price climbed 1% to £260,000. </p> <p>It opened 32 new sales outlets against last year’s 36. The lower level of sales releases meant a “slight shortfall” in the number of net reservations – 1,084 against last year’s 1,132.</p> <p>Revenue fell 5% to £238.2 million, with pre-tax profit dropping 25% to £21.8 million.</p> <p>Over the past five weeks, McStone’s sales momentum has increased, with its total forward order book now around 1% behind the previous year at around £496 million as of the …