Westleigh set to give Countryside a boost

By Hamish Champ2018-05-18T06:00:00

Beam Park development, Countryside and L&Q, london housing, station

Deal to buy Leicestershire-based firm will expand housebuilder’s geographical reach

Countryside expects last month’s Westleigh acquisition to give it a further lift in the second half, after the housebuilder reported pre-tax profit of £74m for the first six months of the year.

Announcing the 22% profit hike on turnover up 13.5% at £399m for the six months to 31 March 2018, Countryside chief executive Ian Sutcliffe said the deal in early April to buy the Leicestershire-based housebuilder would further increase the group’s momentum “by expanding our geographic reach and mixed tenure delivery”.

Countryside completed 1,655 homes in the first half, up 15% year-on-year. Its partnerships operation completed 1,172, up 19%, while its housebuilding operation completed 483 homes, up 7%.

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