In value, housing orders (including cancellations due to abandoned projects)totaled 137.8 million including VAT in the fourth quarter, compared with 405.8million including VAT in the prior-year period. For the full year, housingorders declined 44.8 to 924.8 million including VAT, from 1,675 Sade tickets millionincluding VAT in 2007. Excluding cancellations due Lil Wayne tickets to abandoned projects, thedecline would have been 40.8. Note that Nicki Minaj ticket the number of housing units Nicki Minaj on the market at November 30, 2008 was 45lower than one year earlier, mainly because more than 90 projects werecancelled. 2008 Financial HighlightsGross profit for 2008 contracted by 33.7 to 211.5 million and represented18.2 of revenues.
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Current operating profit came to 88.5 million and current operating marginstood at 7.6. The cost of net financial debt amounted to 41.2 million, versus 27.1 millionin 2007, reflecting the financial structure of Kaufman & Broad set up in July2007. Income attributable to shareholders, which stood at 8.2 million for the year,was sharply impacted tickets for Sade by the factors described above. Lil Wayne tickets for Lil Wayne Excluding reorganisationcosts, net of tax, it amounted to 24.3 million for the year.Working capital requirement stood at 33.0 of revenues at November 30, 2008,compared with 31.4 at November 30, 2007. Year on year, it declined in value by11.5 to 384.5 million, from 434.5 million.
The improvement was mainly due to thereduction in working capital requirement. Outlook BacklogHousing backlog amounted Nicki Minaj tickets to 862.5 million (excluding VAT), down 27.5 from1,189.7 million at November 30, 2007. This represented 13.2 months of business.At November 30, 2008, 278 housing programs were on the market, of which 68 inIle de France and 210 in the other regions, representing a Sade total of 4,977 unitsfor sale, compared with 8,958 units Sade ticket one year earlier. Ongoing development of Seniors Santé in the nursing home segmentKaufman & Broad is pursuing its development in the nursing home segment throughits equity investment in Seniors Santé. Inaddition, four tickets for Nicki Minaj facilities licensed to offer 433 beds are currently being builtand are expected to open in 2009. Five others representing around 420 beds arein the development stage and will open between Lil Wayne ticket 2010 and 2012.