Housebuilder reveals 26% fall to £45.5m for the half-year to 31 August 2005.
Housebuilder Westbury today reported a 26% fall in pre-tax profit to £45.5m for the half-year to 31 August 2005.
Westbury had warned the market that it was in for a poor set of results in a trading statement last month.
However, the group increased its interim dividend by 15% to just over 6p a share.
Chairman Geoffrey Maddrell said: “There is a clear government focus on social and affordable homes. We recognised last year that we will need to be active in this market if our growth targets are to be achieved.”
Shares in the company were little affected when the results were announced, rising by less than 0.5% to 433p.
The company also announced today that it has appointed Jeremy Plummer as an independent non-executive director.