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Countryside Properties posts rise in FY profit, revenue

Tue, 29th Nov 2016 07:37

(ShareCast News) - Countryside Properties reported a rise in full-year pre-tax profit and revenue as it said 2016 was "another positive year" for the housebuilding sector.In the 12 months to the end of September, pre-tax profit jumped to £78.6m from £28m the year before as revenue grew to £671.3m from £547.5m.Adjusted operating profit rose 34% to £122.5m, with adjusted revenue up 26% to £777m and completions 12% higher than last year at 2,657. Meanwhile, the private average selling price was up 21% to £465,000.The company said strong customer demand was underpinned by a structural shortage in housing, supportive government policy and favourable lending conditions.Demand for all tenures of housing, particularly in London and the South East, continues to be strong, with the Help-to-Buy and planning policy reform both stimulating demand for homes.Chief executive Ian Sutcliffe said: "We have made tremendous progress in 2016, delivering solid growth, a strengthened balance sheet and marking our return to the London Stock Exchange. We enter the 2017 financial year in a strong position with an industry leading land bank and record private forward order book."Our strategy remains to deliver growth, increasing returns and capital efficiency from our balanced business models of Housebuilding and Partnerships. We see significant growth opportunities in Partnerships with increased estate regeneration in London and our geographic expansion into the West Midlands, while our increased scale and operational efficiency in Housebuilding will continue to improve returns."The company said current trading remains robust, with sales rates and values above year-end numbers, adding that the markets in which it operates have recovered following the EU referendum.Countryside recommended its first dividend per share of 3.4p, which will be paid in February, subject to approval at the annual general meeting in January.
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30 May 2022 16:42

UPDATE: Countryside confirms rejection of two Inclusive takeover bids

(Alliance News) - Countryside Partnerships PLC on Monday confirmed that it had received and rejected two takeover proposals from San Francisco-based investor Inclusive Capital Partners LP, advising shareholders to take no action.

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30 May 2022 12:06

LONDON MARKET MIDDAY: FTSE 100 looks for impetus in quiet day

(Alliance News) - The shortened trading week in the UK was off to a smooth start, with the FTSE 100 largely directionless in midday trade, as investors breathe a sigh of relief following China's move to ease stringent Covid restrictions in Beijing and Shanghai.

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30 May 2022 09:45

TOP NEWS: Countryside shares jump as US bidder goes to shareholders

(Alliance News) - Shares in Countryside Partnerships PLC rose Monday morning after Inclusive Capital Partners LP said it made two approaches to the company's board with a potential takeover offer, both of which were rebuffed.

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30 May 2022 09:09

LONDON MARKET OPEN: Sentiment improves; Countryside drives midcaps

(Alliance News) - Stocks in London were enjoying a broad-based rally on Monday morning, with optimism stemming from China easing its tight restrictions put in place to curb the spread of Covid in Beijing and Shanghai.

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30 May 2022 07:57

LONDON MARKET PRE-OPEN: Countryside bats off suitor; Oil tops USD120

(Alliance News) - Stocks in London look set to open the shortened week on the front foot, boosted by a positive session in Asia as China begins to ease its Covid restrictions in both Shanghai and Beijing.

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30 May 2022 07:32

In-Cap lines up £1.47bn bid for Countryside Partnerships

(Sharecast News) - Countryside Partnerships confirmed on Monday that it had rejected a £1.47bn takeover proposal from US investment firm Inclusive Capital as it "materially undervalued" the business and its prospects.

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27 May 2022 11:09

Deutsche Bank lowers target price on Countryside Partnerships

(Sharecast News) - Analysts at Deutsche Bank lowered their target price on housebuilder Countryside Partnerships from 342.0p to 260.0p on Friday, stating the group was "striving to get back on track".

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27 May 2022 10:06

LONDON BROKER RATINGS: JPMorgan cuts Just Eat Takeaway and Deliveroo

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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20 May 2022 09:43

LONDON BROKER RATINGS: Deutsche Bank cuts Marshalls to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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19 May 2022 11:22

Countryside Partnerships swings to interim loss; outlook remains firm

(Alliance News) - Countryside Partnerships PLC said on Thursday it swung to an interim loss but remained firm on its full-year guidance.

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19 May 2022 08:33

Countryside swings to H1 loss but backs FY guidance

(Sharecast News) - Countryside Partnerships said on Thursday that it swung to a loss in the first half but backed its expectations for the year.

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12 May 2022 16:00

UK earnings, trading statements calendar - next 7 days

Friday 13 May 
ContourGlobal PLCTrading Statement
Sage Group PLCHalf Year Results
Monday 16 May  
Diploma PLCHalf Year Results
Finsbury Growth & Income Trust PLCHalf Year Results
Greggs PLCTrading Statement
Petropavlovsk PLCFull Year Results
Ryanair Holdings PLCFull Year Results
Tuesday 17 May 
accesso Technology Group PLCTrading Statement
Benchmark Holdings PLCHalf Year Results
Big Yellow Group PLCTrading Statement
Britvic PLCHalf Year Results
C&C Group PLCFull Year Results
DCC PLCFull Year Results
Fresnillo PLCTrading Statement
Imperial Brands PLCHalf Year Results
Lamprell PLCFull Year Results
Land Securities Group PLCFull Year Results
Micro Focus International PLCTrading Statement
Renew Holdings PLCHalf Year Results
Shoe Zone PLCHalf Year Results
Smartspace Software PLCFull Year Results
Sureserve Group PLCHalf Year Results
TI Fluid Systems PLCTrading Statement
Tremor International LtdTrading Statement
Tritax EuroBox PLCHalf Year Results
TwentyFour Select Monthly Income Fund LtdHalf Year Results
Velocys PLCFull Year Results
Victorian Plumbing Group PLCHalf Year Results
Vitec Group PLCTrading Statement
Vodafone Group PLCFull Year Results
Watkin Jones PLCHalf Year Results
Zytronic PLCHalf Year Results
Wednesday 18 May  
Assura PLCFull Year Results
Aviva PLCTrading Statement
British Land Co PLCFull Year Results
Burberry Group PLCFull Year Results
Dev Clever Holdings PLCFull Year Results
Experian PLCFull Year Results
Future PLCHalf Year Results
Marston's PLCHalf Year Results
N Brown Group PLCFull Year Results
Ninety One PLC and LtdFull Year Results
Polarean Imaging PLCFull Year Results
Premier Foods PLCFull Year Results
TBC Bank Group PLCQ1 Results
Watches of Switzerland Group PLCTrading Statement
Thursday 19 May  
Atalaya Mining PLCQ1 Results
Auction Technology Group PLCHalf Year Results
Bank of Cyprus Holdings PLCQ1 Results
Countryside Partnerships PLCHalf Year Results
Dialight PLCTrading Statement
easyJet PLCHalf Year Results
Ecofin Global Utilities & Infrastructure Trust PLCHalf Year Results
Essentra PLCTrading Statement
Euromoney Institutional Investor PLCHalf Year Results
Fevertree Drinks PLCTrading Statement
Gamma Communications PLCTrading Statement
Great Portland Estates PLCFull Year Results
Idox PLCTrading Statement
Inspecs Group PLCFull Year Results
Investec PLCFull Year Results
JPMorgan Japanese Investment Trust PLCHalf Year Results
National Grid PLC Full Year Results
Purplebricks Group PLCTrading Statement
Qinetiq Group PLCFull Year Results
Royal Mail PLCFull Year Results
S&U PLCTrading Statement
Smart Metering Systems PLCTrading Statement
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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28 Apr 2022 10:01

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