8 June 2016 – trading update

Following the recent trading update, the company has announced that it has since concluded two further land sales for 275 house units, one of which was ahead of schedule.  The profit from the disposals was greater than expected and taking into account the level of land sales completed since the start of the year together with the commercial development work in progress through the second half of the year, the company now expects results for 2016 to be well ahead of market expectations.  We re-iterate our recommendation of BUY.