Shares in McCarthy & Stone (MCS) rose 6 per cent after the retirement homes builder delivered an upbeat trading statement covering the first five weeks of the new financial year. Following a slowdown in sales in the immediate aftermath of the EU referendum, trading has since recovered and is now stronger than in the previous year.
IC TIP:
Buy
at
174p
New enquiries have increased, and first-time visitor numbers are well ahead from last year. As a result, the forward order book including legal completions since 1 September has recovered to around £173m broadly unchanged from a year earlier.
