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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 483.40p
Change Today:
-3.00p
Market Cap:
2,537.85m
Sector:
Household Goods & Home Construction

Countryside Properties revenues rise but profits hit by writedown

By Michele Maatouk

Date: Thursday 13 May 2021

LONDON (ShareCast) - (Sharecast News) - Countryside Properties backed its full-year expectations on Thursday as it reported a jump in revenue amid strength in the private for sale market, but said profit was dented by a writedown related to remedial work on high-rise developments.

In its unaudited results for the six months to 31 March, the home builder said adjusted operating profit increased 42% on the same period a year ago to 78.6m, on adjusted revenue of 755m, also up 42%. Completions rose 14% to 2,591, driven by increased private for sale completions as it completed on homes deferred as a result of the Covid-19 pandemic.

Countryside said that overall, private completions were 71% higher than in 2020.

However, pre-tax profit for the period fell to 38.8m from 43.7m. Countryside said it had made a 25m provision for remedial work on historical high-rise developments related to cladding in the wake of the Grenfell Tower tragedy.

Adjusted basic earnings per share rose 22% to 11.1p.

Chief executive Iain McPherson said: "We have seen a good recovery from 2020, with trading in line for the full year. We remain focused on executing our growth plans in Partnerships, with investment into three new operating regions and a strong bid pipeline, in line with our longer term plans.

"Our track record working with partners across Local Authorities, Housing Associations and private homeowners, together with our framework agreements and forward order book, position us well to deliver our medium-term growth targets."



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CSP Market Data

Currency UK Pounds
Price 483.40p
Change Today -3.00p
52 Week High 544.50p
52 Week Low 283.40p
Volume 35,569
Shares Issued 525.00m
Market Cap 2,537.85m

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 15-Jun-2021

Time Volume / Share Price
10:02 1 @ 483.29p
10:01 58 @ 483.40p
10:01 7 @ 483.40p
10:00 1 @ 483.72p
09:54 1,720 @ 483.87p

CSP Key Personnel

CEO Iain McPherson