Pensioners rally round McCarthy

PENSIONERS are continuing to buy retirement homes from specialist McCarthy & Stone in record numbers. A record 619 units were sold at an average price up 10% at £103,100 in the six months that ended in February. Sales were particularly strong in the Midlands and Scotland.

The average age of the purchaser of a McCarthy & Stone home is now 74, and the Second World War generation is living longer and is richer. To cater for this, the homebuilder is constructing Assisted Living homes, which provide independent living with catering and domestic support mainly for the over-80s. Two schemes are up and running and two are planned in Kent and Bedfordshire.

Pre-tax profits rose 19% to £22.1m. The interim dividend is up 10% to 3.3p. Chairman John McCarthy said sales were comfortably ahead of last year.