* Co says business returned to more "normal levels"
* Co says reservations stronger, cancellation rates normal
* CFO Nick Maddock leaves for SIG Plc
* Stock rises as much as 7.6 pct
(Adds order book details, shares, rivals' performance)
Oct 11 McCarthy & Stone Plc, Britain's
biggest builder of retirement homes, said business had returned
to more normal levels in the five weeks since the end of August,
after a slowdown following Britain's vote to leave the European
The company said in September that it was seeing more
property reservations cancelled in the wake of the Brexit vote
as potential customers did not want to sell their existing homes
in a weak market.
McCarthy & Stone said on Tuesday that it had seen a rise in
new enquiries and first time visitors to its developments had
been "noticeably ahead" of last year.
Shares in McCarthy were up 7,4 percent at 175 pence by 0724
The housebuilder, which was the first British developer to
offer owner-occupied retirement housing in 1977 and has since
sold around 51,000 homes, added that reservations had been
stronger and cancellation rates had returned to more "normal"
The firm's forward order book, including legal completions
since Sept. 1, was about 173 million pounds ($215 million),
compared with 177 million pounds a year earlier.
Property was one of the sectors hardest hit by the June 23
referendum on Britain's EU membership. The country's biggest
builders and estate agents saw their share prices plunge and
investors pulled money from commercial funds, leading many to be
McCarthy & Stone said last month that its rate of
cancellations of house reservations had "pretty much" doubled in
June and July versus the average of 15 percent to 20 percent,
with the relatively expensive Southeast of England hit hardest.
However, some builders and data have indicated some
stabilisation of demand in recent weeks. Housebuilder Persimmon
, said in August it had seen a jump in reservations by
new home buyers, Barratt Developments said last month
that sales had risen since the leave vote and Berkeley Group
said the property market had stabilised in August.
McCarthy & Stone also said its finance boss Nick Maddock was
leaving to take up the CFO position at building materials
supplier SIG Plc.
($1 = 0.8042 pounds)
(Reporting by Noor Zainab Hussain in Bengaluru, editing by