Turner Corporation reports record results

Real Estate Weekly, Sept 4, 2002

The Turner Corporation reported the achievement record results for the six month period which ended June 30. The value of new contracts secured, at $4.2 billion, represents the highest half-year sales figure in Turner's history.

This compares to $3.4 billion for the comparable period in 2001. Gross sales earnings were $139.6 million, another all-time six-month record, compared to $113.1 million for the corresponding period last year. The value of construction completed for the first half of 2002 was $2.9 billion.

Earnings from construction contracts, at $104 million, improved 12% over the $92.7 million reported for the first half of 2001. Backlog earnings as of June 30 were a record $214 million, an increase of 25.6% over the $170.4 million reported as of June 30, 2001. Construction backlog volume was $6.7 billion as of June 30, compared to $5.1 billion for the same period last year.