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Homes sales at Wilson Bowden drop to 2,317

FINANCE

ANOTHER major house builder has been hit by the cooling market, with sales at Wilson Bowden, owner of David Wilson, retreating in the first half of this year.

Sales fell to 2,317 units from 2,502 a year ago. This was despite raising the number of sites from which the group is selling new homes by 15 per cent.

Chairman David Wilson said: 'The outlook for the current year remains mixed.' At the main David Wilson Homes business, the cost of incentives used to tempt in buyers more than doubled but sales still fell to 2,190 units from 2,402.

Chief executive Ian Robertson said: 'Reservations performance in David Wilson Homes was in line with overall market performance.' The average sales price at David Wilson Homes also slumped, down to £194,500 from £211,900 in 2004.

Turnover fell to £459.3 mil-lion from £508.9 million a year ago and operating profits to £90.2 million, from £112.9 million. The group only offset the decline by lifting profits at its commercial division.