21.09.2015 - Lennar has increased profits
Lennar showed strong growth against the background of recovery in the US housing market and growth in housing prices. In the last quarter sales rose by 16% and the value of new orders grew by 20% to $ 2.3 billion. The company's profit totaled 223 million dollars against 177.8 in the same period last year. The average house price rose by 5% to 350 thousand dollars. Despite this, the margin fell to 24.1% against 25.2% last year. Given the rise in prices in the housing market, we expect growth of quotations of the company at 40-45% per annum in the medium term.