Highlights
Underlying profit before tax increased 57% to £212.9m (2013: £135.3m)
Revenue up 33% to £1.2bn (2013: £0.9bn)
Legal completions increased 28% to 6,408 new homes sold (2013: 5,022), average selling price increased 4.3% to £186,970 (2013: £179,199)
Further expansion of underlying operating margin to 17.7% (2013: 15.1%), an increase of 260bps
Return on average capital employed increased 54% to 21.7% (2013: 14.1%)
Strong land investment with 14,251 plots of land secured in the period bringing consented landbank to 82,250 plots
Continued success in securing planning consent for the Group's strategic land bank with 3,702 plots converted in the period, backed by a strengthening pipeline
Accelerating net free cash flow generation of £122.0m in the period (2013: £74.5m)
Net cash of £326.3m at 30 June 2014 (2013: £48.1m)
Underlying basic earnings per share increased 61% to 54.8p (2013: 34.1p)
Current forward sales 22% ahead at over £1.53bn (2013: £1.26bn)
Second payment of surplus capital under the Capital Return Plan of £214m (70p per share) paid 4 July 2014
