The Traderszone Network

Published in TZ Latest News 22 October, 2015 by The TZ Newswire Staff

PulteGroup profit falls as home sales drop, legal costs rise

PulteGroup Inc, the No.3 U.S. homebuilder, reported a 23 percent fall in quarterly profit as it sold fewer homes and set aside funds to cover litigation costs following a recent unfavorable verdict in a contract dispute. PulteGroup’s overall home sales fell to 4,356 units in the third quarter from 4,646 a year earlier. PulteGroup said its expenses included $20 million for litigation-related reserves.