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
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.