House builder Wilson Bowden said it was benefiting from the UK's robust housing market as it posted a jump in earnings. Pre-tax profits for the six months ended June 30 rose to �91.4m ($143.5m), from �76.6m a year earlier.
Property developers have gained from cheap UK home loans and Wilson Bowden's higher profits follow a similar rise at rival builder Persimmon, on Tuesday.
The company said its results demonstrated the current resilience of Britain's housing market.
Soft landing
While the average price of a Wilson Bowden home is �250,000, chief executive Ian Robertson said prices might come down in the near future.
"I can see a soft landing in prices, and market conditions look fair for the next six to 12 months," he said.
Wilson Bowden also announced a 19% rise in its interim dividend to 7.5p per share.
Based on Tuesday's closing price, the company's shares have outperformed the FTSE construction sector by about 3% since the start of 2003.
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