Strong results from property development pushed Wilson Bowden to record profits last year.
The property development arm contributed £18.9m, almost twice as much as last time, to group operating profits of £70.9m at the upmarket housebuilder. Pre-tax profits rose 63% to £67m, on overall sales up 39% to £459.6m.
David Wilson, chairman, said the sale of a couple of shopping centres created a “quantum leap”. The retail centres in Edinburgh and Cardiff want for £42m and £22m respectively, helping property turnover rise 67% to £110m. Benefits from property development would be strong this year too.
- The Times 12/03/98 page 29 (Commentary)
- Financial Times 12/03/98 page 33
- The Daily Telegraph 12/03/98 page 32
