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What are you searching for? The company plans to launch the "T-Select" line of homes in January in Houston, which will feature fewer options than the company's traditional properties. News Sections.
Several of the company's New York City projects have been largely sold out toward the end of the year.
Gross margin was 24 per cent, compared to It's about having confidence that you Canberrra the right choice with the right builder.
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Luxury home builder Toll Brothers Inc. In recent months the company has faced concerns from investors that its exposure to slowing luxury markets such as New York City could hurt results.
Chief executive Douglas Yearley said Tuesday the company has benefited by operating in "a demographic sweet spot in the luxury market. We are not part of any of those stories about Tool, Conn. Yearley said.
At the same time, executives announced further details about a new line of homes at lower price points geared toward first-time buyers who have delayed home purchasing and Canberrs to bypass traditional starter homes. The company plans to launch the "T-Select" line of homes in January in Houston, which will feature fewer options than the company's traditional properties.
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The move is part of an effort to build some homes at a faster clip to boost return on equity, which has been lower than usual in recent years due to the Tlll pace of the Toll brothers Canberra recovery.
High labor and land costs also have weighed on the home building industry in recent months, as shares of most large builders have underperformed the broader stock market.
Results in the fourth quarter were broad-based across the country, with every region showing contract growth for its traditional home building business. But the company reported fewer contracts for its City Living condo division, which has projects in New York City and some other East Coast markets.
Several of the company's New York City projects have Caanberra largely sold out toward the end of the year. Executives said the New York City market isn't as hot as it had been nrothers years ago, but that the units there still provide some of the company's highest gross profit margins in the U. Toll beat expectations on revenue and new orders, but gross profit margins were slightly lower than expected.
Looking to next year, the company expects to deliver 6, to 7, units, up Toll brothers Canberra a final count of 6, Pure massage Morphett Vale year. Director of Land Acquisition. Hillsborough, New Jersey.
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