Redrow on way to profit April 26, 2010 HOUSEBUILDER Redrow expects to return to profitability in the second half of 2010 as market conditions continue to improve. The FTSE 250 group says it has been “encouraged” by sales activity since the start of the calendar year. It is likely to legally complete more than 2,500 homes this year with sales rates per outlet [...]
Property gets a boost from duty changes March 24, 2010 THE government yesterday handed first-time home buyers a boost by scrapping stamp duty for houses costing less than £250,000 for two years in a measure that will be paid for by those at the higher end of the property ladder. Chancellor Alistair Darling has increased stamp duty on houses worth £1m or more from four [...]
Persimmon is back in black as sales rise March 2, 2010 HOUSEBUILDER Persimmon swung back into profit last year after writing up the value of its landbank by almost £75m. Pre-tax profits came in at £77.8m compared to a £780m loss in 2008 when lower property valuations took their toll as the sector was ravaged by the recession. The UK’s largest housebuilder completed 8,976 homes last [...]
Persimmon back in profit March 2, 2010 HOUSEBUILDER Persimmon swung back into profit last year after writing up the value of its landbank by almost £75m. Pre-tax profits came in at £77.8m compared to a £780m loss in 2008 when lower property valuations took their toll as the sector was ravaged by the recession. The UK’s largest housebuilder completed 8976 homes last [...]
Redrow warns on mortgages February 25, 2010 HOUSEBUILDER Redrow slashed its first-half losses following a pick-up in the number of sales and an increase in prices but warned that a lack of mortgages is still causing problems. Completions climbed 21 per cent to 1,266 for the six months to December with the average selling price of homes rising 3.6 per cent to [...]
Redrow reduces losses but warns over mortgage market February 25, 2010 HOUSEBUILDER Redrow slashed its first-half losses following a pick-up in the number of sales and an increase in prices but warned that a lack of mortgages is still causing problems. Completions climbed 21 per cent to 1,266 for the six months to December with the average selling price of homes rising 3.6 per cent to [...]
Halfords buys car company February 18, 2010 CAR and bike accessories retailer Halfords said yesterday it was expanding into the car servicing market after buying Nationwide Autocentres for £73.2m. The company said the “Halfords Autocentre” business would be a major source of growth for the firm. In addition to Nationwide’s existing 224 sites, it is expected that Halfords will open 200 new [...]
CITY MOVES | WHO’S SWITCHING JOBS December 21, 2009 Persimmon The housebuilder has hired Jonathan Davie as a non-executive board director, effective from 1 January. Davie, 63, is chairman of financial spread-betting firm IG Group, and is also currently a non-executive director of Portland Gas and chairman of First Avenue Partners. He has previously held roles as vice chairman of Credit Suisse and chief [...]
Redrow reports 47 per cent jump in home reservations as stability returns November 4, 2009 HOUSEBUILDER Redrow yesterday reported a 47 per cent surge in home reservations on the year before and said home sales have been “remarkably stable”. The group yesterday said that for the first 18 weeks of the financial year, net private reservations have averaged 45 per week – a return to “historic norms” after the devastating [...]
BARRATT BEATS THE BLUES November 4, 2009 HOUSEBUILDER Barratt yesterday said there had been a 92.3 per cent shareholder take-up of its £720m rights issue, strengthening signs of appetite returning to the housing sector. Barratt follows in the footsteps of rivals Redrow, Taylor Wimpey, Berkeley Group and Bellway which have all launched cash calls in the slump.