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Countryside benefits from city growth

Countryside Properties has announced its preliminary results for the year by saying that group prospects ‘have never been better’.

 

Countryside Properties has announced its preliminary results for the year by saying that group prospects ‘have never been better’.

The group is one of the largest house-builders in the southeast, where housing prices have boomed in the last year. Countryside itself developed of 4,500 units, with 10,200 subject to planning approval.

Pre-tax profits in the year to September 30th increased by 31%, from £14.6 million to £19.2 million. Earnings per share were 17.8p from 14.3p, while a final dividend is paid at 3p per share. A total dividend is planned at 4.5p per share, from 3.75p last year.

The group looks forward to a strong first-half of the current financial year. Chairman Alan Cherry says: ‘The housing and property markets are set to benefit well into the future from stable economic conditions’.

The shares added 5p to 138p in light trading.

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