Final Results.
Highlights
-- UK operating margin* increased to 9.7% (2010: 6.4%*)
-- Group Return on Net Operating Assets** increased to 9.8% (2010: 5.3%*)
-- Tangible net asset value per share*** 57.3p (2010: 56.9p)
-- Group operating profit* increased by 81(1) % to GBP159.5m
--
Propose a final dividend of 0.38 pence per share (2010: nil)
-- Significant improvement in operational performance in the UK:
-- Double digit operating margin target achieved ahead of 2012 target (H2 2011: 10.1%)
-- 11,756 new plots approved for purchase (2010: 8,713 plots)
-- Ongoing success in acquiring and obtaining planning for strategic land
-- Strong growth in both private and affordable order book to GBP983m at 26 February 2012
-- Customer satisfaction increased to 92.1% (2010: 87.1%)
-- 32% reduction in reportable injury frequency rate
-- 18% reduction in waste generated per 1,000ft(2) built
-- Completed sale of North America in July 2011, final stage of major restructuring
-- Bought back GBP85.4 million of the 10.375% Senior Notes due 2015