Wimpey says sales solid for autumn November 7, 2011 HOMEBUILDER Taylor Wimpey said trading in the busy autumn selling period had been stable and it is on track to meet margin targets. The UK’s second-largest volume housebuilder by market value said its current order book for future completions stood at 6,265 homes, against 5,496 homes at the same point last year. The group is [...]
Taylor Wimpey reports steady autumn November 7, 2011 Homebuilder Taylor Wimpey said trading in the busy Autumn selling period had been stable and it is on track to meet margin targets. The UK’s second-largest volume housebuilder by market value said its current order book for future completions stood at 6,265 homes, against 5,496 homes at the same point last year. The group is [...]
Redrow reports strong demand November 3, 2011 HOUSEBUILDER Redrow said it made steady progress in the first 17 weeks of the year, with underlying demand expected to increase despite a tough macro picture weighing on the sector. The group said reservations to date were one per cent ahead in the period from the end of June compared with a year ago, averaging [...]
Redrow beats forecasts in profits surge September 8, 2011 HOUSEBUILDER Redrow has posted better than expected pre-tax profits, thanks to a 14 per cent rise in revenues, but warned of a tough outlook for the property market. The Wales-based company posted a pre-tax profit of £25.3m in the 12 months to the end of June, compared with £700,000 the year before, beating a consensus [...]
Redrow profit tops forecasts September 8, 2011 Housebuilder Redrow has posted full-year pre-tax profit ahead of expectations, thanks to a ten per cent rise in selling prices, but warned the outlook for the property market is challenging. Redrow, one of the smaller listed volume housebuilders, made £25.3m pre-tax profit in the year to the end of June, compared with £0.7m in 2010 [...]
BEST OF THE BROKERS September 7, 2011 KINGFISHER Nomura has upgraded the DIY specialist a “buy” with a 320p target price in the view that it offers 40 per cent upside potential, with earnings growth driven by its sourcing initiatives, common ranges and strong execution despite short term economic worries. The broker says it sees scope for Kingfisher to achieve double-digit earnings [...]
THE WEEK AHEAD September 4, 2011 COMPANY NEWS ● Lonrho announces today. It invests in infrastructure, transport, agribusiness, hotels and support services businesses in Africa. ● On Tuesday, Allstate, Ashtead and Genus all announce. The latter is a British-based business selling products manufactured using biotechnology to cattle and pig farmers. ● Amphenol will announce on Wednesday. Amphenol was founded in Chicago [...]
Redrow plans Scottish divestment as sales rise April 19, 2011 UK-BASED housebuilder Redrow said yesterday that because of its positive sales so far this year, it plans to offload its Scottish operations to focus more on the South-East and London markets. Britain’s sixth largest housebuilder by market value said it averaged 0.70 sales per site since the start of 2011, compared with 0.65 per week [...]
Don’t let builders be the only beneficiaries March 28, 2011 Housebuilding companies have rallied since news in last week’s budget that £250m would be made available to help first time buyers get onto the property ladder. Dubbed Firstbuy Direct, the scheme will give those below a certain income threshold access to a 25 per cent equity loan to cover the deposit on a new home. [...]
Galliford in boost from new homes February 23, 2011 HOUSEBUILDER and construction company Galliford Try’s first-half adjusted pre-tax profit rose 29 per cent on a pickup in housebuilding demand, and the company raised its interim dividend by 36 per cent. The company, which was founded by W S Try in 1908 as a construction business carrying out work in west London, said that housebuilding [...]