Florida’s St. Joe Co. returns to profit in quarter
The St. Joe Co., a Florida real estate developer, returned to a profit in the third quarter, as improved real estate and timber sales more than doubled revenue. St. Joe said net income reached $15.3 million, or 17 cents per share, in the period. Revenue rose to $55.9 million from $26.7 million a year earlier, aided by two rural land sales totaling $18.3 million. It sold 58 homes, up from 40 a year ago.