TORONTO, Sept. 16, 2016 /CNW/ - Mattamy Group Corporation ("Mattamy"), the largest privately owned homebuilder in North America, today announced key operating results for the fourth quarter ended May 31, 2016, and posted full financial results for the fourth quarter on Intralinks.
"In fiscal 2016, Mattamy's business performed well across Canada and showed continued improvement in our US divisions," said Peter Gilgan, Founder & CEO of Mattamy Homes. "The hard work and tremendous dedication of our people showed in the details of the year-end numbers, as we sold and closed a record number of homes last year, from 15 different operating divisions. These strong financial results lowered the company's debt ratios and our large backlog gives us more predictable results heading into fiscal 2017. We are looking forward to building on our success."
Fourth Quarter 2016 Key Operating Highlights
- Homes closed increased 22.0% to 2,312 from 1,895 in the prior year quarter
- Net sales orders grew 5.2% to 2,047 homes from 1,946 homes in the prior year quarter
- Sales order backlog expanded 38.3% to 7,520 units from 5,437 units in the prior year quarter
Fiscal Year 2016 Key Operating Highlights
- Homes closed increased 11.9% to 5,409 from 4,833 in the prior year period
- Net sales orders grew 26.8% to 7,494 homes from 5,909 homes in the prior year period
For Access to Conference Call and Financial Reports:
Mattamy will host its conference call, for qualified investors, to discuss its fourth-quarter financial results live on September 20, 2016, from 10:00 am EDT to 11:00 am EDT. Conference call dial-in details and full financial results are available on Intralinks. An audio replay of the call will be available within 24 hours after the call on Intralinks.
Access to Mattamy's Intralinks site is accessible to beneficial owners of notes, prospective investors and others upon certification to establish its identity as such to the reasonable satisfaction of Mattamy. To obtain information on how to access the site, or if you experience any difficulty please contact [email protected].
About Mattamy Homes
Mattamy Homes is the largest privately owned homebuilder in North America, with operations across the United States and Canada. Mattamy has sold more than 70,000 homes in 160 communities. In the United States, the company is represented in nine metropolitan areas – Minneapolis-St. Paul, Charlotte, Phoenix, Tucson, Jacksonville, Orlando, Tampa, Sarasota and Naples – and in Canada, those communities stretch across the Greater Toronto Area, as well as in Ottawa, Calgary and Edmonton. Visit www.mattamyhomes.com for more information.
SOURCE Mattamy Homes Limited
Image with caption: "Mattamy Homes is North America's largest privately owned homebuilder. (CNW Group/Mattamy Homes Limited)". Image available at: http://photos.newswire.ca/images/download/20160916_C6350_PHOTO_EN_774970.jpg
For further information: Investor Relations Contact: Darryl Dawe, 416-637-0794, [email protected]