2014/15 Financial and Operational Highlights

Revenue

£114.2m

2014 restated: £58.9m

Revenue

Basic Earnings Per Share

14.67p

2014 restated: 3.46p

Basic Earnings Per Share

Profit Before Tax

£34.0m

2014 restated: £9.6m

Profit Before Tax

Net Asset Value Per Share

43.92p

2014 restated: 29.63p

Net Asset Value Per Share

Year End Cash Balances

£21.4m

2014 restated: £11.1m

Year End Cash Balances

Dividend Per share

1.00p

2014: 0.60p

Dividend Per share

* Due to the introduction of IFRS 10 the Group has consolidated the results of Drayton Garden Village Ltd (DGVL) for the years ending 30 June 2015 and 2014. Prior years were accounted for under IAS 27 and SIC 12 and these standards did not require the consolidation of DGVL.

Financial Highlights

  • Revenue has increased by 94% to £114.2m (2014 restated: £58.9m);
  • Profit before tax (including £14.5m revaluation surplus) has increased by 254% to £34.0m (2014 restated: £9.6m);
  • Earnings per share has increased by 324% to 14.67p (2014 restated: 3.46p);
  • Total dividend (interim 0.3p plus proposed final 0.7p) per share increased by 67% to 1.0p (2014: 0.6p);
  • Net assets per share increased by 48% to 43.92p (2014 restated: 29.63p) excluding any unrealised gains within inventories;
  • Year end cash balance of £21.4m (2014 restated: £11.1m);
  • Net gearing** of 39% (2014 restated: 68%).

** Total borrowings less cash as a proportion of shareholders' funds

Operational Highlights

  • Record performance, well ahead of market expectations;
  • Expansion of housebuilding programme adding significantly to results. 248 private homes sold this year (2014: 114);
  • Creation of residential investment property portfolio contributed £14.5m of revaluation surplus and annual rental income has exceeded £1.1m post year end;
  • Land bank has continued to grow and currently stands at 5,176 plots (2014: 3,734 plots), 1,200 of which are consented (2014: 1,318).

248

private housing completions this year

1,200

consented plots in land bank

5,176

plots in the land
bank

Completed development at Queensgate, Farnborough

Showhome at Queensgate, Farnborough