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Prices & Quotes - UK Markets - Countryside Properties (CSP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 487.80p
Change Today:
-3.20p
Market Cap:
2,560.95m
Sector:
Household Goods & Home Construction

Countryside upbeat for current year, despite uncertain outlook

By Abigail Townsend

Date: Thursday 15 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Countryside Properties insisted it was well positioned for current financial year on Thursday, despite the uncertain economic outlook.
Updating on trading, the FTSE 250 homebuilder said adjusted operating profit for the year to 30 September was likely to be around 54m, in line with management expectations.

Total completions were 4,053 in 2020, down on the 5,733 recorded a year previously; of those, 1,454 were private, 1,691 were affordable, and 908 were in the private rented sector. The private average selling price was 364,000, 3,000 down from 2019's figure.

The total forward order book was up 17%, however, at 1.4bn, while net cash was ahead at 98.2m, compared to 73.4m a year previously. Overall, the landbank stood slightly higher at 25,042 plots as at 30 September.

The group conceded that the pandemic - which closed building sites and temporarily halted the UK property market - had caused "significant disruption" to the business. But it added that demand had remained strong for all tenures of housing, and that its sites were now operating at around 95% of their normal delivery level.

Looking ahead, Countryside said: "While the broader economic outlook remains uncertain, we are well positioned for the current financial year with a strong forward order book."

Iain McPherson, chief executive, added: "We have been pleased by robust customer demand throughout the second half, and our mixed-model tenure continues to prove resilient, positioning us well in the current market."

Peel Hunt, which has a 'buy' recommendation on the stock and a target price of 380p, said there were "few surprises" in the pre-close statement.

As at 1145 BST, shares in Countryside were off 5% at 329p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

CSP Market Data

Currency UK Pounds
Price 487.80p
Change Today -3.20p
52 Week High 544.50p
52 Week Low 283.40p
Volume 45,703
Shares Issued 525.00m
Market Cap 2,560.95m

Performance Indicators

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What The Brokers Say

Strong Buy 3
Buy 1
Neutral 2
Sell 0
Strong Sell 1
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CSP Dividends

  Latest Previous
  Final Interim
Ex-Div 19-Dec-19 23-May-19
Paid 07-Feb-20 05-Jul-19
Amount 10.30p 6.00p

Trades for 14-Jun-2021

Time Volume / Share Price
12:31 10 @ 487.49p
12:29 504 @ 487.80p
12:22 6 @ 488.00p
12:22 350 @ 488.40p
12:20 17 @ 488.20p

CSP Key Personnel

CEO Iain McPherson