Projected flat next 12 months profit probably didn't excite anyone too much. The glory days might be over for the time being.
Something to remember is that at least some part of the past few years profit growth has come from the land component of a sale, as most land has been held for a couple of years and enjoyed the boom times with everyone else. If the price of land has temporarily reached a plateau, or the rise slowed, then this will not give an added boost.
MJS
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