18 September 2012 – annual results
The housebuilding and construction group has announced excellent final results for the year to 30 June, with group revenue rising by 17% to £1.5bn and pre-tax profits increasing by 80% to £63.1m, excluding an exceptional credit in 2011. Earnings per share on the same basis were 89% higher at 60.9p and the dividend was raised by 88% to 30p. These are extremely good results and the group can also boast net cash of £23m at the year end. Prospects for the group look encouraging going forward although the shares have enjoyed a strong rally over the last few months. Nevertheless, they remain a STRONG HOLD.