Reuters: Builder Wilson Bowden year profit drops 14 percent
Housebuilder Wilson Bowden (WLB.L: Quote, Profile, Research) said on Wednesday 2005 pretax profit fell by 14 percent after experiencing "the most challenging housing market for many years". The country's fifth-biggest housebuilder by stock market value said profit before tax dropped to 216.4 million pounds from 252.4 million pounds in 2004. But it is raising its full-year dividend by 22.4 percent to 46.5 pence. The company said in a statement its David Wilson homes division had "performed well in a difficult market" after reporting 5,027 completions for 2005 against 5,403 previously.