Maryville, Tennessee-based Clayton Homes has reported a net income increase of 31.1 percent for Q3 2015, to $189 million, according to a regulatory filing, says nationalmortgagenews. A subsidiary of Berkshire Hathaway, revenue rose due to an eight percent increase this year in home unit sales.
Additionally, profit grew because of low interest expense in borrowing, improved manufacturing plus 95 percent of Clayton’s loans were current. The company also suffered lower loss rates on foreclosures in Q3.
As MHProNews knows, Clayton is the largest producer of manufactured homes in North America with some 45 percent marketshare. ##
(Photo credit: Clayton Homes)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.
