Toll Brothers Inc., a home building company based in Horsham Pennsylvania, announced a 29 percent increase in its quarterly revenue due to the sale of homes such as single-family detached and attached residences. The homes are sold at higher prices due to the growing demand of housing products and services in the chief metropolitan regions in the United States of America. All in all, the total revenue rose to $1.35 billion from $1.04 billion. Such data proves an obvious improvement in the company’s sales.
According to one of the key persons of the largest luxury home provider in the US, Chief Executive Officer Douglas Yearley, they are pleased with the company’s strong finish to FY 2014 and, given the 4th quarter’s increase in demand, start FY 2015 with optimism.
The spot of Toll Brothers in public trading is continuously improving in the past four quarters, making the company’s shares escalate to a tough 1.5 percent to $32.69 in premarket trading.
As of the 4th quarter, which ended Oct.31, the number of homes that was finished by the company grew by 22 percent to 1,807. From 2013, average selling prices grew by 6.3 percent to $747,000.
Real estate projects taken by the Toll Brothers are contained in new contracts that increased by 10% to 1,282 units. The value of the deals increased by 16% to $ 970.2 million.
As of the last annual count, the company’s stock hit a one percent increase in the market trading.