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

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

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

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

McCarthy & Stone revealed that forward sales have “steadily improved throughout the year despite the significantly lower number of sales releases and first occupations”.

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 “improved” during the year.

It will release its full year results on 14 November.

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