Strategy

Sales growth – grow output incrementally to 4,000 units per annum by 2021.

Regional focus – maintain focus on existing regional markets which have the following advantages:

• Less competitive land market
• Reduced subcontractor cost pressures and availability issues
• More favourable planning environment
• Customers are predominantly home owners rather than investors

Margin enhancement and capital efficient returns – maintain disciplined and selective approach to land acquisitions, optimising margin and capital efficiency.