REAL ESTATE
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Another British home builder with extensive Southern California operations, Barratt Developments PLC, said it earned $104.6 million--a 57% jump from last year--on revenue of $900.2 million for the fiscal year ending in June. U.S. profits contributed $15 million on $158 million in revenue as the British company’s results continued to improve.
Also, the chairman of Barratt American, the Irvine-based U.S. subsidiary, was named chairman of the British parent company recently. John S.R. Swanson will replace company founder Sir Lawrie Barratt, who steps down in January.
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