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McCarthy & Stone PLC (MCS.L)

MCS.L on London Stock Exchange

133.00GBp
16 Nov 2018
Change (% chg)

-1.80 (-1.34%)
Prev Close
134.80
Open
135.30
Day's High
136.90
Day's Low
133.00
Volume
1,324,797
Avg. Vol
1,483,763
52-wk High
172.20
52-wk Low
96.05

Latest Key Developments (Source: Significant Developments)

Mccarthy & Stone FY Underlying Operating Profit Decreased By 30 Pct To £68 Mln
Tuesday, 13 Nov 2018 

Nov 13 (Reuters) - McCarthy & Stone PLC ::FULL YEAR RESULTS.FY REVENUE INCREASED BY 2% TO £672M (FY17: £661M).FY PROFIT BEFORE TAX DECREASED BY 37% TO £58M (FY17: £92M).FY UNDERLYING OPERATING PROFIT DECREASED BY 30% TO £68 MILLION.GROUP REITERATES EXPECTED FY19 SAVINGS RANGE ANNOUNCED AS PART OF NEW STRATEGY OF C.20-30% OF FY21 TARGETED P&L SAVING OF C.£40M.DIRECTORS ARE PROPOSING A FINAL DIVIDEND OF 3.5P PER SHARE.FY AVERAGE SELLING PRICE £300K VERSUS £273K.FY LEGAL COMPLETIONS 2,134 UNITS VERSUS 2,302 UNITS.  Full Article

Mccarthy & Stone Responds To MHCLG’s Consultation On Ground Rents
Monday, 22 Oct 2018 

Oct 22 (Reuters) - McCarthy & Stone PLC ::RESPONSE TO MHCLG’S CONSULTATION ON GROUND RENTS.NOTES ANNOUNCEMENT MHCLG REGARDING LATEST CONSULTATION ON LEASEHOLD REFORM & CAPPING GROUND RENTS FOR FUTURE NEW-BUILD HOUSING."PLEASED THAT MHCLG PROPOSING TO ALLOW EXEMPTION FOR RETIREMENT COMMUNITYSECTOR".  Full Article

Mccarthy & Stone Names John Tonkiss As Permanent CEO
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - McCarthy & Stone PLC ::DIRECTORATE CHANGE.ANNOUNCES APPOINTMENT OF JOHN TONKISS AS CHIEF EXECUTIVE OFFICER.JOHN TONKISS WILL TAKE ROLE AS CHIEF EXECUTIVE OFFICER WITH IMMEDIATE EFFECT.JOHN HAS BEEN INTERIM CEO OF MCCARTHY & STONE SINCE 1 SEPTEMBER 2018.  Full Article

Mccarthy & Stone Says Co Will Review Capital Allocation Policy On A Regular Basis
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - McCarthy & Stone PLC ::FY19-FY23 BUSINESS TRANSFORMATION STRATEGY.2018 ORDINARY DIVIDEND TO BE CONSISTENT WITH PRIOR YEAR.BOARD WILL REVIEW CAPITAL ALLOCATION POLICY ON A REGULAR BASIS.2018 ORDINARY DIVIDEND TO BE CONSISTENT WITH PRIOR YEAR.GROUP WILL FOCUS ON REDUCING ITS CAPITAL EMPLOYED BY AT LEAST £70 MILLION BETWEEN FY18 AND FY21.TARGETS IMPROVEMENT IN OPERATING MARGINS TO MORE THAN 15 PCT BY FY21.  Full Article

Mccarthy & Stone ‍Responds To Media Commentary On Ground Rents​
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Mccarthy & Stone Plc ::‍NOTES MEDIA COMMENTARY REGARDING PROPOSAL BY DEPARTMENT FOR COMMUNITIES AND LOCAL GOVERNMENT (DCLG) TO REDUCE GROUND RENTS ON NEW LONG LEASES TO ZERO​.‍MCCARTHY & STONE HAS MADE A CASE TO DCLG FOR EXEMPTION OF RETIREMENT HOUSING PROVIDERS FROM SUCH ACTION​‍.RESPONSE TO MEDIA COMMENTARY ON GROUND RENTS​.‍HAS FULLY DISCLOSED ITS PRACTICE OF AGGREGATING AND SELLING FORWARD ITS FREEHOLD REVERSIONS​.DOES NOT BUILD LEASEHOLD HOUSES AND DOES NOT EMPLOY TYPES OF ESCALATING GROUND RENTS WHICH HAVE BEEN CAUSE OF DCLG'S REVIEW​.‍UNDERSTANDS THAT DCLG ARE CONSIDERING LIMITED EXEMPTIONS FROM THEIR PROPOSED CHANGES TO LEASEHOLD PRACTICES.‍IN FY18, PROFIT TO BE GENERATED BY FREEHOLD REVERSION SALES EXPECTED TO BE £33M, PROFIT STREAM EXPECTED TO INCREASE.‍IN SHORT TERM, IF UNABLE TO SECURE EXEMPTION FROM MEASURES, IT WILL SEEK TO EMPLOY STRATEGIES TO MITIGATE IMPACT ON PROFITABILITY OF CURRENT LAND BANK​.  Full Article

McCarthy & Stone starts new financial year with a strong forward order book
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Mccarthy & Stone Plc :TOTAL DIVIDEND ‍5.4 PENCE PER SHARE VERSUS 4.5 PENCE PER SHARE YEAR AGO.FY REVENUE ‍​ 660.9 MILLION POUNDS VERSUS 635.9 MILLION POUNDS YEAR AGO.MCCARTHY & STONE PLC - ‍ACHIEVED A STRONG RESULT IN H2 AND DELIVERED AN IMPROVEMENT IN BOTH MARGINS AND VOLUMES COMPARED TO FIRST HALF OF FY17​.MCCARTHY & STONE PLC - ‍GROUP STARTS NEW FINANCIAL YEAR WITH A STRONG FORWARD ORDER BOOK AND A ROBUST BALANCE SHEET​.FY PRETAX PROFIT 92.1‍​ MILLION POUNDS VERSUS 92.9 MILLION POUNDS YEAR AGO.MCCARTHY & STONE PLC - ‍ARE ON TRACK TO OPEN C.80 SALES OUTLETS AND DELIVER MORE THAN 65 FIRST OCCUPATIONS IN FY18​.FY LEGAL COMPLETIONS 2302 ‍​ VERSUS 2,296 YEAR AGO.FY AVERAGE SELLING PRICE ‍​273K POUNDS VERSUS 264K POUNDS YEAR AGO.  Full Article

Retiree home builder McCarthy & Stone trims FY profit outlook

Sept 6 Britain's biggest builder of homes for retirees, McCarthy & Stone, trimmed its full-year profit forecast on Thursday, months after issuing a profit warning citing cautious consumer spending and economic uncertainty.