Housebuilder Prowting unveiled a 12% rise in pre-tax profit to 拢9.7m for the six months to 31 August 1999.
The rise was smaller than last year鈥檚 28% leap, despite the booming market throughout the South-east.
The company achieved operating margins of 11.5% on turnover marginally up from 拢90m to 拢92.1m. Its forward order book stood at 拢54.3m from 418 housing sales 鈥� up 24% on the same time last year.
Managing director Steve Rosier said government planning policy was restricting land supply in the South-east, leading to the current strong increase in prices.
Rosier predicted that this will lead to a sharp increase in turnover in the second half of 1999 as delayed schemes come on the market.
