No doubting Prowting
David HargreavesTHE soaring fortunes of the housebuilding sector were again in evidence today with Prowting reporting a more-than-doubled pre-tax profit to GBP 16.8 million for the year to end-February,
Chief executive Terry Roydon said he believes all the ingredients are in place for a healthy and stable housing market.
"Our sales in the year to date have been in line with our expectations and prices remain firm," he said. The company's profit was achieved on turnover of GBP 177 million, up 31%, and total dividend for the year is 4.6p, up 15%. "Prowting's strategy will continue to focus on maximising margin rather than volume, using as little scarce land as possible," Roydon added.
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