24.06.2015 - Lennar Corp. increased its profit by 33%
The company Lennar Corp. reported an increase in profits of 33% in the last quarter due to the recovery of the housing market and higher prices. The company builds homes in the US. According to company’s representatives, the main reasons for the growth were the improvement in the labor market, affordable prices and attractive monthly payments compared to renting. The number of homes delivered increased by 20% during the quarter to 5,989 homes and the price rose by 8.1% to 348 thousand dollars. As a result, for the quarter that ended in May, the company received profit $ 183 million, against 137.7 million for the same period last year. Revenue rose by 32% to 2.39 billion dollars. Given the growth in the housing market, we expect the price increase by 35-40% per year.