Volume Growth and Operating Profit Increase
Volume increased by 14% to 8,749 homes, and operating profit rose to GBP 303 million, indicating strong performance.
Private Output Growth
Private output grew by 20.3% to 6,924 homes, supporting overall volume growth.
Increase in Average Selling Price
The average selling price (ASP) increased by 2.8% to GBP 316,000, aligning with expectations.
Share Buyback Announcement
A GBP 150 million share buyback was announced, reflecting confidence in cash generation and shareholder returns.
Capital Allocation Framework
Introduction of a new capital allocation framework focused on driving asset efficiency and shareholder value.
Improvement in Overhead Recovery
Increased volume output and revenue led to a 50 basis point improvement in overhead recovery.
Strong Order Book
The order book consists of 5,300 homes valued at GBP 1.5 billion, with 65% forward sold for FY '26.