Toll Brothers contracts jump 42% |
| Bizjournals.com - Nov 11, 2009 |
Toll Brothers Inc., one of the most active builders in the Raleigh-Durham area, received a rush of new business in its latest quarter, bolstering recent signs that the housing market is recovering.
The Horsham, Pa.-based company said in a preliminary announcement of its fiscal 2009 fourth quarter results that net signed contracts jumped 42 percent to approximately 765 units compared to fiscal 2008’s fourth quarter. Toll Brothers said the dollar value of contracts was 62 percent higher in the quarter ended Oct. 31, than in the prior year quarter and that the latest quarter’s totals exceeded fiscal year 2007's fourth-quarter results.
Toll Brothers (NYSE: TOL) said that it produced the improved sales despite having fewer selling communities, 215 in the fourth quarter of 2009, compared to the comparable 2008 quarter when it had 290 selling communities, or the 2007 fourth quarter when it had 315 selling communities.
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- Posted: 2009-11-11 12:10:31
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