Kaufman & Broad Inc., Los Angeles, the...
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Kaufman & Broad Inc., Los Angeles, the homebuilding and insurance concern, said Tuesday its net rose by 47% in the second quarter and 60% for the six months.
The biggest contributor to the second-quarter gain in operating profit came in the company’s insurance segment, which rose 34% to $42.4 million, reflecting increased profits from Anchor Financial Services, both of which were acquired in May 1986.
Housing operating profit for the quarter rose 34% to $8.5 million excluding land sales, and rose a modest 1.8% to $11.4 million overall.
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