McCarthy & Stone Plc announced consolidated earnings results for the year ended August 31, 2017. For the year, the company reported revenues of £660.9 million compared with £635.9 million for the same period a year ago. Operating profit was £94.2 million compared with £95.1 million for the same period a year ago. Underlying operating profit was £96.2 million compared with £107.2 million for the same period a year ago. Profit before tax was £92.1 million compared with £92.9 million for the same period a year ago. Profit for the period from continuing operations and total comprehensive income was £74.4 million compared with £73.5 million for the same period a year ago. Profit attributable to owners of the company was £74.2 million or 13.8 pence per basic and diluted share compared with £73.1 million or 13.9 pence per basic and diluted share for the same period a year ago. Underlying profit before tax was £94.1 million compared with £105.0 million for the same period a year ago. Net cash outflow from operating activities was £3.8 million compared with net cash inflow from operating activities of £18.3 million for the same period a year ago. Purchase of property, plant and equipment was £0.7 million compared with £1.5 million for the same period a year ago. Purchase of intangible assets was £0.4 million compared to £0.4 million a year ago. Underlying basic earnings per was 14.2 pence compared to 16.1 pence a year ago. Return on capital employed (ROCE) was 16% compared to 20% a year ago.

For the fiscal year 2018, the improvement of forward sales experienced throughout the year has continued into fiscal year 2018 with total forward sales including legal completions since 1 September 2017 standing at £277 million at 10 November 2017 compared to fiscal year 2017 £250 million.