Housebuilder Westbury's profit has risen by one-quarter for the six months to 31 August, after its acquisition of Prowting Homes in May.
The enlarged group's pre-tax profit, excluding exceptional costs, increased from 拢32.4m to 拢40.7m. Turnover rose from 拢264.8m to 拢345m.

Westbury's existing business performed well, with operating profit increasing from 拢35.7m to 拢42.4m on turnover up 12% to 拢295.8m.

Colin Cole, Westbury Homes' managing director, said demand for housing remained strong despite predictions of a market collapse. He said the Prowting integration might not end up costing the group as much as the initial estimate of 拢4.5m.

Prowting, which Westbury bought for 拢141m, contributed to the firm's results for 10 weeks. It had a pre-tax profit of 拢2.3m and sold 270 units over the six months to 31 August. Cole said 100 staff had been made redundant and three of its five regions closed.

Westbury expects to save 拢3m by integrating the two firms in the second half of the year, and 拢7m a year from 2003.

The group's prefabrication factory, Space4, lost 拢1.9m during the period and built 300 units. Cole said it would make a profit next year when production should top 2000 units.