(APPROVED BY THE BOARD OF DIRECTORS)
• Sharp increase in sales in first-half 2010
- Housing orders up 55% in value
- Take-up rate of more than 30% for new programs
• Significant improvement in financial indicators
- Gross margin up 4.2 points to 17.1%, from 12.9% in first-half 2009
- Sharp reduction in working capital requirement to 15.6%, from 31.2% at May 31, 2009
- €202 million reduction in net debt, compared with May 31, 2009
• Land bank up a solid 50% in one year
• Confirmation of a return to net profit in 2010 and substantially improved outlook for 2011
(Paris - July 9, 2010) – Kaufman & Broad S.A. today announced its financial results for the first six months of fiscal 2010, which ended on May 31.
To download this press release, click-here.
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