Trading Statement.
Highlights
Group revenues of c. 875m, in-line with prior year equivalent period, with total co mpletions of 4,832 units (Note 1)
Average selling price ("ASP") against the prior year equivalent period increased by c. 6% to 176k, with private ASP increasing by c. 11% to 192k, driven by changes in mix. Underlying selling prices remained stable during the period
Significant improvement in operating profit with operating margin increasing to around 5% in the period, up from 2.4% (Note 2) in the prior year equivalent period
Net debt lower than expectations at c. 540m, with full year guidance maintained at 400m to 450m
Forward sales as at 31 December 2010 in-line with the prior year at 645.7m