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30 April 2004
Countryside Properties has implemented a new organisational structure as announced at the time of its Preliminary Results last November. It will allow the Group to take best advantage of its strong position in the strategically important growth areas identified by Government, as well as leading to improved efficiency and a reduced cost base.
The Group has combined its Strategic Projects and Commercial Divisions to form a new Special Projects Division. In more recent times these two Divisions had moved away from their original modus operandi and had both been pursuing mixed-use opportunities for the Group's benefit. Bringing their respective skills and strengths together will improve efficiency and provide great benefit to the business.
The Copthorn Homes business is being re-focused to concentrate its efforts on opportunities that exist within London and the Thames Gateway. It will very shortly be changing its name to Countryside Properties (London & Thames Gateway) Ltd. Copthorn has in more recent times become renowned for high quality design which has evolved on the back of customer feedback and changing Government planning policy. However, with increasingly little differentiation between its activities and those of the rest of the Group, it has been decided that greater brand leverage and efficiency can be obtained from Copthorn utilising the Countryside Properties brand name.
In addition, the Group's North Thames, South Thames and South West residential regions are being combined to form a new Southern region. This will operate from our Head Office in Brentwood with satellite land offices, in the first instance, in Bristol and Cambridge.
Graham Cherry, Chief Executive of Countryside Properties commented, "We believe these changes will lead to important operational advantages, as well as generating significant reductions in administrative costs, without compromising our ability to increase our volumes and output over the coming years."
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Information correct as at 30/04/2004