Trading Statement
January 09 2001 - 2:00AM
UK Regulatory
RNS Number:8956W
McAlpine (Alfred) PLC
9 January 2001
2000 Trading Update
"Yet another very successful year"
Alfred McAlpine PLC, the housebuilding and construction
services group, is pleased to confirm that 2000 has been
yet another very successful year. This follows the
strong performance of the Group reported over the last
five years.
The Company intends to announce its preliminary results
for the year ended 31 December 2000 on 15 March 2001 and
expects to report highly satisfactory results at that
time.
Continuing our established strategy in private housing,
average selling prices have increased by 18% in 2000 to
#133,800, primarily reflecting the movement of our sales
mix into the higher value area of the market. Whilst
completions are comparable to 1999, this increase in
average selling price combined with further improvements
across the business has driven the private housing
operating margin ahead of our 12% target set for the year
2000. We are targeting higher margins in 2001, based on
modest increases in selling prices and further benefits
from cost reductions.
The changes introduced in 2000 to Homes Division's
regional coverage, which are intended to increase both
unit sales and profitability in the coming years, are
already benefiting the Division, with the London and East
Midlands businesses in particular developing well and
expected to contribute to growth in 2001. Our land bank
and planning consents for the current year place us in
our strongest position ever, and reservations have
strengthened in recent weeks after a quiet Summer and
early Autumn.
We view the advent of PPG3 as an opportunity to add to
our sustainable growth by using the specialist skills we
have within the Group for mixed use schemes.
In Construction Services, McAlpine has again produced
further growth confirming its position as one of the best
performers in the sector. This has been achieved by
giving our customers what they want and developing
relationships with clients who have longer term horizons.
For example, Civil Engineering has negotiated further
business in long term infrastructure management and heavy
plant support services in the quarrying and materials
handling sector. Our asset management team is continuing
to extend its operations in a buoyant and expanding
infrastructure market. Special Projects is increasing
its commitment in its business and property development
skills and resources, to enable the generation of further
profit and turnover growth towards the end of 2001.
We have had further success in our PFI, adding both to
our contracts and to our portfolio of investments.
Commenting on the trading update, Sir Terence Harrison,
Chairman, said:
"2000 has proved to be a further year of significant
achievement for the Company. We are increasingly
confident that McAlpine will continue the strong progress
of recent years, and that our unique combination of
businesses will continue to prosper."
For further information, please contact:
Alfred McAlpine PLC 020 7930 6255
Sir Terence Harrison, Chairman www.alfred-mcalpine.com
Oliver Whitehead, Chief Executive
Jeff Hume, Finance Director
Golin/Harris Ludgate 020 7253 2252
Reg Hoare
Denise Peplow
Peter Gaze
ENl
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