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Homebuilder Countryside reported a fall in profit as revenue fell in the first half of the year, owing to coronavirus-led disruptions to construction following the nationwide lockdown.
For the six months ended 31 March 2020, operating profit fell 32% to £42m as revenue slipped 5% to £481.2m on-year.
Lost completions and land sales in March impacted profit by about £29m and increased net debt by about £83m.
Private average selling price fell to £368k in the half from £377k a year earlier.
The forward order book was up 45% to £1,506m, providing 'significant' visibility, the company said.
'As we move into the second half of the year, we have cautiously restarted construction on around 80% of our sites albeit with significantly reduced build rates as we adjust to new ways of working,' Countryside said.
'Whilst the market outlook remains highly uncertain, our resilient mixed-tenure business model and strong forward order book benefit us both operationally and financially as we work alongside our partners to restart our operations as efficiently as possible,' it added.