Full year revenue up 4% to record 拢660m as average selling price exceeds 拢273m for first time in its history

Retirement house builder McCarthy & Stone saw trading improve throughout the year shrugging off worries following last year鈥檚 EU referendum and June鈥檚 general election. 

Issuing its trading update for the full year ended 31 August 2017, it saw record revenue of 拢660m 鈥� up 4% from the previous 12 month period. 

The average selling price increased 3% and exceeded 拢273,000 for the first time in the company鈥檚 30-year history, while completions nudged up by just six homes to 2,302. 

McCarthy & Stone revealed that forward sales have 鈥渟teadily improved throughout the year despite the significantly lower number of sales releases and first occupations鈥�.

It opened 52 new sales outlets during the year compared to 64 from the previous 12 month period and said it remained confident of delivering a further 80 new sales releases in the upcoming financial year.

Earlier in the summer, the firm said sales had slowed because of uncertainties the election but in its latest update, it said trading has 鈥渋mproved鈥� during the year.

It will release its full year results on 14 November.

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