3rd Oct 2013 08:47
LONDON (Alliance News) - Inland Homes PLC Thursday reported an increase in profit and revenue for the full year, as its decision to increase housebuilding activity proved effective.
The housebuilder posted pretax profit of GBP5.2 million for the period ended 30 June, up from GBP1.6 million a year earlier, while revenue jumped to GBP31.1 million from GBP6.1 million.
The company attributed the strong performance to an increased number of plots sold to other developers as well as a significant contribution from the development and sale of new homes built by the group.
Inland sold 55 homes during the period, up from 9 a year earlier, generating revenue of GBP11.4 million, compared with GBP1.7 million in 2012.
There also was strong developer and housing association demand for consented land, with 375 plots sold for GBP16.4 million compared with none last year.
Inland said its net asset value per share increased to 28.7 pence, from 27.0 pence.
The board approved a four-fold increase in the dividend to 0.27 pence from 0.067 pence.
Inland shares were 40.42 pence Thursday, up 0.04 pence, up 0.1%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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