Explosive growth for Centex
Article Abstract:
Centex, Dallas, TX, house builder, expects operating profit from house building to rise to $89 million in 1993-94 vs $76 million in 1992-93. The firm's contracting order books reached $1.2 billion at end Mar 1993 vs $790 million in same period 1992. Centex, the largest house builder in the US, also acts as a mortgage lender, arranging loans for 80% of its customers. The firm's mortgage division had operating profit of $48 million in 1992. The company expects house sales to rise to 12,000 in 1993/94 vs 10,279 in the year to end Mar 1993. Building material prices in the US are dropping while house prices are starting to rise.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1993
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Crest tumbles in stormy waters
Article Abstract:
Housebuilding, developing and contracting concern Crest Nicholson aims to sell 1,600-1,650 houses in 1992, but it will not break even unless the revival in the housing market continues. It made losses of 59.4 million pounds sterling in 1991, compared with a profit of 8 million pounds sterling in 1990, but it has gone a long way towards reducing its borrowings, and its share price has risen. The company's 'just-in-time' landbank procedures are criticised by analysts, but it has been praised for selling 1,435 houses in 1991.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
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