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Housing drag on Bett Bros pre-tax result

THE difficult housing market was behind a virtual halving in pre- tax profits at Bett Brothers, the Dundee-based house builder and developer, in the half ending February.

Chairman Ronnie Hanna blamed a sluggish housing

market.

He said it had responded slowly to an increased use of incentives for a slump in pre-tax profits to 1.73 million from

3 million last time.

The result was also marred by the timing of the groups commercial property sales.

Mr Hanna said there were signs of modest improvement, particularly in the second-hand housing market which should help it achieve higher sales in the second half.

The firm has set up a new region in Cheshire which it hopes will contribute to profits next year.

Group turnover fell by 8 per cent to 14 million, although the dividend was maintained.