Countryside Properties (CSP) – results offer positive read across for Sigma Capital
Interim results today from the leading UK home builder with a significant presence in urban regeneration offered a positive read across for Sigma Capital Group (AIM:AGM) a business we have been delighted to follow over the past few years
Countryside’s Partnerships division specialises in urban regeneration of public sector land, delivering private and affordable homes by partnering with local authorities and housing associations. The results stated that ‘Affordable’ completions, including Private Rental Sector (“PRS”), were up 43% in the period to 611 units (HY 2015: 427 units) due to the increase of PRS units in the North. Affordable Average Selling Prices (‘ASPs’) decreased by 6% to £109,000 (HY 2015: £116,000), reflecting a greater proportion of completions in their Northern Partnerships division, where Sigma Capital is also strong. The Partnerships division has had a strong start to the first half,…