One said: "Not many other major housebuilders have a construction division any more, so some can't see the point of it."
But Taywood said its construction business, which has performed poorly for a number of years, fitted well into the restructured group. The reorganisation of the business involved the loss of more than 800 staff across the group.
These cost-cutting measures appear to have worked: the construction business made an operating profit of £5.6m after a £600,000 loss last year. The margin was 2.9%.
Throughout the group, pre-tax profit was up 16% to a record £103.8m for the six months to 30 June. Turnover increased 33% to £977m after the £535m takeover of Bryant. But earnings per share fell from 16.4p last year to 13.8p in 2001.
Bryant Homes, the brand for the combined housing businesses, reported a massive increase in operating profit – up to £50.6m compared with £14.9m for the same period last year. It is now the UK's fourth-largest housebuilder, with sales for the period of 2121 and an average selling price of £152,000.
Taywood's US division suffered a slip in demand because of the economic downturn. Despite this, the its operating profit increased 19% to £28.8m.
The integration of Bryant cost Taywood £8.3m, but the group said the £15m annual savings touted at the time of the deal were secure.
The group's property development and investment division's operating profit was static at £23.7m, but turnover increased from £61.3m to £82.4m.
