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Lennar profit jumps, orders rise
September 24, 2013 / 10:13 AM / 4 years ago

Lennar profit jumps, orders rise

Sept 24 (Reuters) - Lennar Corp, the No. 3 U.S. homebuilder, reported a 39 percent jump in quarterly profit as it sold more homes at higher prices, and said new orders rose 14 percent.

Net income rose to $120.7 million, or 54 cents per share, in the third quarter from $87.1 million, or 40 cents per share, a year earlier.

Orders, a key indicator for builders who do not book revenue until they close on a house, jumped to 4,785 houses.

Total revenue rose 46 percent to $1.6 billion.

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