India, March 12 -- Smith Douglas Homes Corporation (SDHC), a home builder, on Wednesday reported a decline in net profit for the fourth quarter, mainly due to provision for income taxes and higher costs. However, the company posted an increase in revenue.
Greg Bennett, CEO of Smith Douglas, said: "Smith Douglas ended the year on a strong note. New home deliveries for the quarter totaled 836, which was well above our stated guidance and represented a company record for quarterly closings. Home closing gross margin came in line with our expectations for the quarter at 25.5%."
For the three-month period to December 31, 2024, SDHC posted a net income of $28.785 million, lesser than $29.680 million, recorded for the same period last year. Prov...