Business

Countryside report H1 trading as 'solid'

Warren Lewis
|
18th April 2019
construction 665

Countryside Properties has announced that it is on track to meet its expectations for the full year, reporting stronger customer demand after a “slower start to the year”.

The housebuilder and regeneration company said that its half year trading had been 'solid'. During the six months from October 1 2018 to March 31 2019, its total completions (combining its Housebuilding and Partnerships divisions) rose 43% to 2,362 homes against the equivalent period the previous year.

The total private average selling price of the homes fell 4% to £377,000, resulting from an increased contribution from the company’s regional businesses, it explained.

Completions in Countryside’s Housebuilding division were “as expected” - broadly flat at 473 against H1 2018’s 483, but with a higher proportion of private sale homes.

The division enjoyed a good first half of securing future work, Countryside said, including being chosen by Homes England to deliver 769 homes across two new developments at Burgess Hill, West Sussex and Tattenhoe, Milton Keynes.

Ian Sutcliffe, Countryside’s ceo, said: “Despite the wider political and macroeconomic uncertainty, demand for mixed-tenure homes remains strong and we have enjoyed a robust spring selling season. With our modular timber frame factory now operational, we continue to be well positioned to deliver on our geographic expansion.”

The firm also announced that Rebecca Worthington, Countryside’s group chief operating officer, would leave her post and resign as a director.

Countryside’s board said it thanked Worthington “for everything she has achieved over the past four years, in particular her contribution to the successful IPO process three years ago and helping drive the subsequent strong growth of the business”.

David Howell, Chairman, said: "Becky has made an outstanding contribution to the business over the past four years. She has been an excellent colleague and board member during that time. On behalf of the board, I would like to thank her for everything she has done and wish her well for the future."

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