COVID-19 update
Monday 20 April 2020
Countryside Properties PLC
COVID-19 update
Board and Executive Committee remuneration and creation of Communities Fund
Countryside Properties plc ('Countryside' or 'Group') announces that, in light of the Covid-19 crisis and its impact on the communities we serve, we are establishing a £1 million fund to support the most vulnerable people in our communities. These funds will help support local charities and groups, food banks and others providing essential local services in locations where Countryside operates across the country.
In addition, all of the Executive Committee and the Board of Directors have agreed to a voluntary 20% reduction in base salary and fees from 1 April 2020 until at least 1 June 2020, with the equivalent cash amount to be added to the Communities Fund.
Along with other businesses in the UK, Countryside is signing up to the C-19 Business Pledge as we continue to support our employees, customers and communities through this crisis.
Iain McPherson, Group Chief Executive said, "I am proud of the response of our colleagues and partners to this unprecedented crisis. With the support of a team of volunteers from within Countryside, we hope that these funds will help support the most vulnerable people in our communities at this current time of need."
The Group is due to report its half year results on Thursday 14 May 2020.
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Enquiries:
Countryside Properties - 01277 260 000
Iain McPherson - Group Chief Executive
Mike Scott - Group Chief Financial Officer
Victoria Prior - Managing Director, Corporate Affairs
Brunswick Group LLP - 020 7404 5959
Nina Coad
Oliver Sherwood
Note to editors:
Countryside is the UK's leading mixed-tenure developer through its two divisions, Partnerships and Housebuilding.
Countryside's Partnerships division was established over 30 years ago, specialising in estate regeneration, with operations in London, the South East, the North West, the Midlands and Yorkshire. It works mainly on public sector owned and brownfield land, in partnership with local authorities and housing associations to develop private, affordable and PRS homes. It recently established a modular panel manufacturing facility in Warrington to improve quality and reduce build times on site. Its developments include large scale urban regeneration projects at Beam Park, Rainham, Acton Gardens, Ealing and Rochester Riverside, Medway.
Countryside's Housebuilding division benefits from an industry leading strategic land bank which is focused around outer London and the Home Counties. It builds family homes, with a focus on placemaking and selling to local owner occupiers. Its developments include a number of large-scale projects including Beaulieu Park, Essex, Springhead Park, Ebbsfleet and Tattenhoe Park, Milton Keynes.
Following six years of continuous growth in volumes, Countryside delivered 5,733 homes in the twelve months to September 2019 - 4,425 through its Partnerships division and 1,308 through its Housebuilding division, with a mix of private for sale, PRS and affordable homes. Revenues were £1,422.8m with 92.5% customer satisfaction equivalent to HBF 5-star rating. It retains a strong balance sheet and is focused on delivering quality homes with sector leading growth. It was listed on the London Stock Exchange in February 2016 as a constituent of the FTSE 250.
For more information see www.countrysideproperties.com or follow @CountrysideProp on Twitter.
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