5-year record

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Income Statement

 

2017

2018

2019 

2020

2021

 

£m

£m

£m

£m

£m

Revenue

2,558.6 2,957.7 3,213.2 2,225.4 3,122.5

Operating profit

571.6 652.9  674.9 321.74 531.54

Net finance expenses

(11.3) (13.6) (14.4) (13.4) (11.1)

Share of results of joint ventures

0.4 1.8 2.1 1.0 10.4

Profit before taxation

560.7 641.1 662.6 309.34 530.84

Income tax expense

(106.6) (121.2) (124.0) (57.6)4 (98.1)4

Profit for year
(all attributable to equity holders of the parent)

454.1 519.9 538.6 251.74 432.74

 

Balance Sheet

 

2017

2018

2019

2020

2021

 

£m

£m

£m

£m

£m

ASSETS

         

    Non-current assets

48.0 59.0 83.2 99.3 102.1
    Current assets 3,099.3 3,485.5 3,806.7 3,984.3 4,574.7
LIABILITIES           
    Non-current liabilities (118.4) (84.9) (99.4) (133.8) (316.9)
    Current liabilities (837.6) (902.5) (869.3) (955.8) (1,072.1)
EQUITY           
    Total equity 2,191.3 2,557.1 2,921.2 2,944.0 3,287.8

Statistics

 

2017

2018

2019

2020

2021

Number of homes sold 9,644 10,307 10,892 7,522 10,138
Average price of new homes £260.4k £284.9k £292.0k £293.1k £306.5k
Underlying gross margin1 25.9%^ 25.6%** 24.6% 19.0%4 20.9%4
Gross margin  25.9%^ 25.6%** 24.6% 15.7% 19.2%
Underlying operating margin1 22.3% 22.1% 21.0% 14.5%4  17.0%4
Operating margin  22.3% 22.1% 21.0% 11.2% 15.4%
Basic earnings per ordinary share 370.6p 423.4p 437.8p 156.6p 316.9p
Dividend per ordinary share 122.0p 143.0p 150.4p 50.0p 117.5p
Underlying return on capital employed1 27.6% 27.2% 24.7% 10.8%4 16.9%4
Return on capital employed1 27.6% 27.2% 24.7% 8.3% 15.2%
Gearing (including preference shares)1 - - - - -
Net asset value per ordinary share1 1,785p 2,079p 2,372p 2,427p 2,664p
Land portfolio - plots with planning permission 25,655 26,877 26,421 28,289 30,933
Weighted average no. of ordinary shares  122,511,626 122,779,199 123,012,723 123,205,211 123,306,035
No. of ordinary shares in issue at end of year 122,797,958 122,980,266 123,167,828 123,345,834 123,396,422

1   APM

4   Stated before net legacy building safety expense and exceptional items.

** Restated due to the adoption of IFRS 15 ‘Revenue from contracts with customers’.

^ Not restated following the adoption of IFRS 15 ‘Revenue from contracts with customers’