11 January 2017 – trading update
The company has released an update on trading ahead of its full year results for the year ended 31 December 2016, which will be announced on 28 February. In 2016 total home completions increased by 4% to 13,881, including joint venture completions. The year end order book was at £1,682m (31 December 2015: £1,779m), excluding joint ventures. As at the end of December 2016 the short term landbank stood at c.76k plots (2015: c.76k plots). Net cash was approximately £365m at the end of the year (31 December 2015: £223.3m). At the current level the shares are a BUY.