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Homebuilder Countryside said it was on track to meet the upper end of operating profit expectations for 2021 and pledged to reinstate guidance next year.
'As a result, subject to no material changes in market conditions, we are on track to deliver at the upper end of consensus operating profit expectations for 2021,' the company said.
The uplift to guidance comes as the company swung to an annual loss after homebuilding activity was disrupted by the Covid-19 lockdown earlier this year.
The company also announced that David Howell, non-executive chairman would step down during 2021.
For the year ended 30 September 2020, pre-tax loss was £1.9 million compared with a profit of £203.6 million as revenue fell 28% to £829 million year-on-year.
Total completions fell 29% to 4,053, and private selling price was flat at £364,000 amid deflation within the housebuilding division.
Total forward order book was up 16% to £948.9m.
The company said it intended to reinstate the dividend in 2021, though added that it would confirm the level of dividend pay-out at the half year results.