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BRIEF-McCarthy & Stone says forward order book up by 241 mln stg since March 1
July 5, 2017 / 6:22 AM / 5 months ago

BRIEF-McCarthy & Stone says forward order book up by 241 mln stg since March 1

July 5 (Reuters) - Mccarthy & Stone Plc:

* Trading update

* Underlying trading conditions remained stable during period from march to date

* Saw some slowing of sales momentum experienced in recent weeks due to uncertainty created by general election

* Has continued to make steady progress in increasing its forward order book and reservation rates have remained broadly in line with prior year

* Seen upward momentum in average selling prices and margins since 1 March

* Average selling prices have exceeded 280,000 stg per unit during period (2016: 265,000 stg)

* Total forward order book has increased by 241 mln stg (2016: 219 mln stg) since 1 March

* Total forward sales including legal completions to date are now in line with prior year at 659 mln stg (2016: 659 mln stg)

* In light of current uncertainty in market however, it is possible that there may be a modest impact on timing of conversion of existing reservations into completions

* Remains confident of delivering 80 new sales releases next financial year, a c.80 pct increase over 44 sales releases forecast for current year Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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