McCarthy & Stone boosted by demand

Retirement housing provider McCarthy & Stone reported a 25% rise in revenues for the year ended 31 August 2014 from a restated 2013 figure of £310.8m to £387.8m. After cost of sales of £283.8m (2013: £244.2m) and administrative expenses of £40.4m (2013: £40.3m including PIK notes of £17.2m) were deducted, the business made an operating profit of £68.1m (2013: £29.5m).