October 11, 2016 / 6:41 AM / in 9 months

BRIEF-McCarthy & Stone says CFO Nick Maddock to step down

2 Min Read

Oct 11 (Reuters) - McCarthy & Stone Plc :

* Change of director and trading update

* Nick Maddock, who has served as group's chief financial officer (CFO) since September 2011, has decided to leave business to take up position of CFO at SIG Plc

* Nick will remain in post and a leaving date in Q1 2017 will be agreed in due course

* Process to identify his successor and ensure a smooth transition is now underway

* Further update will be made when group announces its full year results statement on 15 November 2016

* Last trading update on 2 September noted that sales immediately post EU referendum had slowed and cancellations rates had increased

* Trading and other lead indicators are now ahead of previous year

* Over first five weeks of new financial year, reservations have been stronger and cancellation rates have returned to more normal levels

* New enquiries have increased and first time visitors to our developments have been noticeably ahead of prior year

* Group's forward order book, including legal completions since 1 september, is now moving towards a similar level to last year at c.£173 million (2015: £177 million)

* Performance provides some early evidence of improving customer sentiment and a potential return to normal trading conditions Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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