Earnings

Toll Brothers profit surges 62%

U.S. luxury home builder Toll Brothers said on Tuesday its quarterly profit rose 62.1 percent, as it sold more homes at higher prices.

The company’s net income rose to $311 million, or $2.08 per share, in the fourth quarter ended Oct. 31, from $191.9 million, or $1.17 per share, a year earlier.

Revenue rose 21.1 percent to $2.46 billion.

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