When Cavanna Group was founded in 1923, the average house price in Britain was £377. The founder’s grandson Jeremy Cavanna now runs the company, which sells homes for up to £375,000 in southwest England, all within a two-hour drive of its base at Torquay in Devon. Profits at the company have grown 53% a year from £2.3m in 2000 to an annualised £8.2m in 2003, helped by the strong housing market and a switch to smaller developments with higher margins.
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