Westbury plc’s Space4 modular timber frame home factory at Castle Bromwich is still on target to break even during the second half of 2003 despite recording a £1.5m loss for the half-year ended August 31.
The housebuilder, which announced a 35% growth in group pre-tax profits to £47.6m, said it was “very encouraged” at interest being shown in the Space4 product and expected further significant orders by both public and private sector customers in the coming months.
Space4 produced more than 500 units during the half-year and is set to deliver in excess of 1,000 homes in the second half.
Westbury chief executive Martin Donohue said: “John Prescott’s visit to the Space4 factory in August emphasised the government’s strong commitment to off-site manufacturing as a tool for modernising the housebuilding sector and Space4 is poised to make a significant contribution towards meeting future housing needs.”
