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McCarthy & Stone PLC (MCS.L)

MCS.L on London Stock Exchange

121.30GBp
9:25pm IST
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172.20
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96.05

Latest Key Developments (Source: Significant Developments)

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.