Mixed results for care housing providers

Care housing provider McCarthy & Stone has filed a positive set of accounts revealing sales of £234.7m for the year ended 31 August 2011, an increase of 14% from £205.8m the previous year. More impressively, the housing provider’s operating profit rocketed up by 67% to £36.2m from £21.7m in 2010 as stock came available for sale following the restart of construction activity in 2009. Overall 1,261 units were sold (2010: £22.9m) during the report period. The company also set up McCarthy & Stone Management Services to run all of its developments released for sale since September 2010 on a day-to-day basis. This will be in addition to its partnership with the Somerset Care Group to manage its assisted living developments under the brand of YourLife Management Services.

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