Countryside Properties (LON:CSP) posted a 24 percent increase in its dividend on Thursday, after an increase in both profits and completions.
Adjusted profit rose 7 percent in the six months to the end of March, driven by a 15 percent jump in completions.
Adjusted revenue rose 7 percent to £468.0 million, up from from £435.4 million the same period a year ago. Pretax profit hit £73.7 million, with adjusted operating margin up 0.9 percent to 17.2 percent.
The home builder completed 1,655 homes, up 15 percent, despite the average selling price falling from £441,000 to £392,000.
“We enter the second half in great shape and our acquisition of Westleigh will further increase our momentum by expanding our geographic reach and mixed tenure delivery’ said Ian Sutcliffe, the group chief executive of Countryside.
“We remain confident of delivering on expectations for both the current year and the medium-term,” the firm said.
Shares in Countryside Properties are currently trading up 1.14 percent at 374.20 (1024GMT).
