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UNAUDITED RESULTS FOR YEAR ENDED 30 SEPTEMBER 2015
Positioned for growth
Outlook and current trading
We continue to experience the strong visitor levels, net sales reservation rates and selling price growth we have seen throughout 2015 and have entered 2016 with a record private order book. We have excellent visibility of future growth given the pipeline of land options and development agreements under our control and the growing number of sites under construction. The planning environment has improved since the General Election allowing us to further increase our site numbers. We continue to expand our Partnerships business, both in the north and south as the push for urban regeneration increases. We anticipate that with strong visibility of our future earnings, we remain firmly on track to deliver our medium term growth plans.
David Howell, Chairman said: “This has been another tremendous year of growth for the Group. The outlook for the coming year remains positive, with strong customer demand for our products and political support for the sector. We have a record private forward order book and look forward to delivering the further growth in our medium term plan.”
Ian Sutcliffe, Group Chief Executive said: “We are delighted to have continued to deliver our operational and financial objectives. We have focused on delivering strong top line and bottom line growth, while maintaining our capital discipline, to give a significant improvement in operating profit, margin and ROCE. Both our Housebuilding and Partnerships divisions have performed very well and have excellent visibility to deliver further industry leading growth.”
The full statement is available here
“Countryside” or the “Group” refers to the Luxembourg Coppice Midco S.à r.l. group.
1 Revenue includes the Group’s share of revenue of associate and joint ventures.
2 Underlying operating profit is defined as Group operating profit plus share of operating profit from joint ventures and associate before non-underlying items.
3 Underlying operating profit margin is defined as underlying operating profit divided by revenue (including the Group’s share of revenue from joint ventures and associate).
4 Return on capital employed is defined as underlying operating profit divided by average net operating asset value. Net operating assets value is calculated as net assets plus shareholder loans and accrued shareholder loan interest plus net bank debt minus intangible assets.