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Davis homes dip

FINANCE

SALES of larger houses took a tumble last autumn at Loughborough-based house builder and contractor William Davis, which had enjoyed a bumper year to May 2005.

William Davis virtually doubled pre-tax profits to £14.8 million in 2005 despite turnover slowing £3.2 million to £88.9 million. Finance director Tony Lorimer said: 'Housing was bad last autumn. We're hoping the market will move forward but aren't expecting great shakes.' Half of William Davis's workload comes from housing, with between 200 and 250 homes a year sold at an average price of £200,000 across the Midlands. The remaining turnover comes from contracting.