Housebuilder Westbury says it will not be rushed into making an acquisition, despite City pressure on the sector to consolidate.
Westbury Homes deputy managing director Colin Cole said: “We won’t be panicked. We will do it when we are ready and if it’s the right move. We are a predator, not the prey.

“We’ve got a very solid business so we can either carry on or make an acquisition.”

Westbury is one of a group of medium-sized housebuilders under pressure to consolidate through a merger or takeover. Other firms include Bellway, Bovis Homes and Prowting.

Cole made his comments as he posted a pre-tax profit of £71.1m for the year to 28 February, up 14% on 2001. Turnover increased 14% to £560m.