US growth boosts Wimpey profits

George Wimpey Plc, Britain’s biggest homebuilder by revenue, said profit in the first half increased 29% as the company expanded US output and benefited from rising house prices.

Net income surged to £109.4 million (€165.6m) or 27.85 pence a share. Full-year results will reach expectations, currently £440m for pretax profit, CEO Peter Johnson said.

“We have the benefit of US growth and it gives us long-term possibilities,” he said. “The next step is to broadly double the size of our business there.”