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Lennar profit rises 36% on higher home sales

Lennar profit rises 36% on higher home sales
FILE PHOTO: Newly constructed houses built by Lennar Corp are pictured in Leucadia, California March 18, 2015. REUTERS/Mike Blake -
Mike Blake(Reuters)
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(Reuters) – Lennar Corp, the No. 2 U.S. homebuilder, reported a 36% rise in quarterly profit, as it sold more homes after a fall in mortgage rates.

Net earnings attributable to Lennar rose to $421.5 million (330 million pounds), or $1.30 per share, in the second quarter ended May 31, from $310.3 million, or 94 cents per share, a year earlier.

Total revenue rose 1.9% to $5.56 billion.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel)

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