Finance

2004 Final Results - Profit Before Tax

• 11th successive year of increased profits
• 31% increase in profit before tax to £52.5m (2003: £40.2m)
• 24% increase in profit before interest to £70m (2003: £56.6m)
• Housing margins up 25% to 15% (2003: 12%)
• Record investment of £0.5bn in Housing land and commercial property
• Record Construction order book of £320m

Previous Results - Profit Before Tax (excluding exceptional gains)

• 2003: £40.2m
• 2002: £27.4m
• 2001: £23.8m
• 2000: £20.5m
• 1999: £17.1m
• 1998: £14.8m