Countryside boss takes a profit

Unlike other builders, Countryside has positioned itself more as an urban regeneration partner working in close co-operation with local authorities to build affordable homes on land owned by the local authority. It also builds private homes under the Countryside and Millgate brands. In the 13 weeks to June this year, total completions were up by 29 per cent from a year earlier, while open sales outlets were up 36 per cent to 60. Sales growth has been boosted by the acquisition of Westleigh, which builds mainly affordable homes across the Midlands and South Yorkshire. Both private and affordable output is expected to increase, and the group has set a target to increase output over the medium term by 10-15 per cent and to achieve operating margins of over 17 per cent as well as a return on capital employed of over 35 per cent.