The company said it entered 2026 with a strong forward order book, and that its overperformance against a predicted 9,300-9,500 completion was driven by strong conversion from its bulk sales pipeline.
Private completions accounted for 79% of the total, a steady rate. Selling prices rose slightly, driven by changes in geography and mix, not by overall house price inflation.
Housing revenue increased by over 13% to £3.14bn and the group expects adjusted operating profit to £320m, with margins slightly down at 10% from 10.9%, pushed down by the higher proportion of lower margin bulk sales.
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