skip to main content

Group financial highlights

We have traded well throughout the financial year, delivering a very strong performance and have seen significant improvements across all financial metrics.

£m unless otherwise stated Year ended
30 June 2016
Year ended
30 June 2015
Increase
Total completions1 (plots) 17,319 16,447 5.3%
Average selling price (£) 259,700 235,000 10.5%
Revenue 4,235.2 3,759.5 12.7%
Profit from operations 668.4 576.8 15.9%
Operating margin2 (%) 15.8 15.3 0.5bps
Profit before tax 682.3 565.5 20.7%
Basic earnings per share (pence) 55.1 45.5 21.1%
Return on capital employed3 (%) 27.1 23.9 320bps
Net cash/(debt)4 592.0 186.5 405.5
Net assets 4,010.2 3,711.3 8.1%
Net tangible assets 3,118 2,819 10.6%

1 Includes joint venture (‘JV’) completions in which the Group has an interest.

2 Operating margin is profit from operations divided by revenue

3 Return on capital employed (‘ROCE’) is calculated as earnings before interest, tax, operating charges relating to the defined benefit pension scheme and operating exceptional items, divided by average net assets adjusted for goodwill and intangibles, tax, cash, loans and borrowings, retirement benefit obligations and derivative financial instruments

4 Net cash is defined as cash and cash equivalents, bank overdrafts, interest bearing borrowings and foreign exchange swaps.

.