27 Sep 2017 07:00
Press release, Wednesday 27 September 2017
McCarthy & Stone plc
Appointment of John Carter as Non-Executive Director
McCarthy & Stone (the "Group"), the UK's leading retirement housebuilder, is pleased to announce that John Carter will be appointed as a Non-Executive Director of the Group with effect from 1 October 2017.
John is currently Chief Executive Officer of Travis Perkins plc, which owns many of the building industry's most popular brands and spans the trade, home improvement and DIY markets. John joined Travis Perkins in 1978 and held a number of various senior strategic roles within the business before being appointed as CEO in 2014.
John White, Chairman of McCarthy & Stone, said:
"We are delighted to announce John Carter's appointment as a Non-Executive Director and we welcome him to the Board. John is one of the industry's true heavyweights and has been the driving force behind the growth of Travis Perkins, the number one supplier of building materials in the UK. He will make a valuable addition to the Group and his appointment is further affirmation of the exciting growth prospects for McCarthy & Stone. The Board and I look forward to working with John as we increase our build programme and deliver our medium-term growth objective of selling more than 3,000 units per annum."
There is no additional information which is required to be disclosed pursuant paragraph LR9.6.13R of the Listing Rules of the Financial Conduct Authority.
- Ends -
For more information, please contact:
McCarthy & Stone, 01202 292480
Clive Fenton, Chief Executive Officer
Rowan Baker, Chief Financial Officer
Paul Teverson, Director of Communications
Powerscourt, 020 7250 1446 / mccarthy-stone@powerscourt-group.com
Justin Griffiths / Nick Dibden
Notes to Editors
About McCarthy & Stone
McCarthy & Stone is the UK's leading retirement housebuilder with a c.70% share of the owner-occupied market1. The Group has sold over 54,000 properties across c.1,200 retirement developments since 1977 and is renowned for its focus on the needs of those in later life. It re-joined the Main Market of the London Stock Exchange in November 2015 and re-entered the FTSE 250 following its quarterly review on 21 March 2016.
There is growing demand for specialist retirement housing, with the number of people aged 85 and over in the UK expected to more than double between 2015 and 2035 from 1.5 million to 3.2 million, and the number of people aged 65 and over expected to increase by more than 50% from 11.6 million to 17.2 million2. According to research by Demos, 1 in 4 over 60s are interested in retirement living3, yet only c.141,000 units of specialist retirement housing for homeowners have been built4.
The Group has two established product ranges - Retirement Living and Retirement Living Plus (formerly known as Assisted Living) - which provide mainly one and two bedroom apartments across the country with varying levels of support and care for older homeowners. In late 2014, McCarthy & Stone launched its Lifestyle Living (formerly Ortus Homes) product, which is exclusively for the over 55s and those in the earlier stages of retirement who are seeking to downsize for their leisure years. McCarthy & Stone is currently selling apartments in this product range across nine locations, helping the Group to capture a wider share of the active retiree market.
The first Lifestyle Living development at Scarlet Oak in Solihull won the Best Retirement Scheme at the annual Housebuilder Awards in November 2015. At the same awards in November 2016, we were pleased to again receive Best Retirement Scheme for Ramsay Grange and Lyle Court, our combined Retirement Living Plus and Lifestyle Living development in Barnton, Edinburgh, as well as Best Customer Satisfaction Initiative for our approach to ensuring that we deliver a Five Star service for our homeowners.
The Group was also pleased to win 15 awards at the 2017 NHBC Pride in the Job awards, marking a 50% increase in winners from 2016. The scheme is dedicated to recognising construction site managers who achieve the highest standards in housebuilding and has been instrumental in driving up standards in the sector for 37 years.
McCarthy & Stone's commitment to quality and customer service continues to be recognised by homeowners. In March 2017, the Group received the full Five Star rating for customer satisfaction from the Home Builders Federation for the twelfth consecutive year - making it the only UK housebuilder, of any size or type, to achieve this accolade.
1 Based on 4,778 registrations of cross-tenure properties specifically designed for the elderly with the NHBC during 18 month period ended 30 June 2017, of which 3,684 were registered by McCarthy & Stone
2 Population projections by the Office for National Statistics (2014 based)
3 Demos - Top of the Ladder (September 2013)
4 Independent data provided by Elderly Accommodation Counsel (April 2016)