Housebuilder Westbury has forecast further growth in 2004 after pre-tax profit rose 28% from £83m to £107m.
This is the 11th year in a row that the firm has posted a pre-tax profit. Group turnover increased 11% to £879m compared with £790.9m last year.

Westbury chief executive Martin Donohue dismissed talk of a takeover by Persimmon and was bullish about the future.

He said: "We are looking forward to a year of further growth for Westbury based on our proven strategy."

Westbury last year merged its western and southern regions to improve efficiency. It now has nine offices in the UK.

The bill for the restructuring was listed as £1.9m.

Westbury Homes, the firm's housing arm, sold 4400 homes at an average selling price of £191,700 compared with £171,500 a year earlier.