Toll Profit Jumps After Luxury Homebuilder Raises Prices
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Toll Brothers Inc., the largest U.S. luxury-home builder, said fiscal third-quarter earnings more than doubled as rising prices fueled a 53 percent increase in revenue.
Net income for the three months through July rose to $97.7 million, or 53 cents a share, from $46.6 million, or 26 cents, a year earlier, the Horsham, Pennsylvania-based company said today in a statement.