Housebuilder's results reveal a 14% fall in interim profit to £85.5m but forward order book increases in value
Reduced site openings and reorganisational costs forced down Wilson Bowden’s pre-tax profit and revenue in the first half of the year.
Pre-tax profit dropped 14% to £85.5m for the first six months to 30 June 2006 at the housebuilder while revenue in the half year was down 5.4% to £525.2m.
Chief executive Ian Robertson blamed the figures on lower level site openings but said the group would perform better in the second half thanks to a good forward order book.
The forward order book has 2266 reservations with a sales value of £387.3m, up from 1488 reservations with a value of £270m.
The costs of integrating Roland Bardsley Homes, which it bought for £49.7m at the end of April, also impacted on profit with the housebuilder incurring costs £1.2m.