Housebuilding industry sends positive message to the City

Jan. 1, 2011
Housebuilders have been reporting positive news to the City ahead of their official results. <br> <br> Taylor Wimpey and Bovis announced profit rises, with Taylor Wimpey stating that operating profit and pre-tax profit would be ahead of upgraded expectations set last November. <br> <br> Bovis’ pre-tax profit for 2010 is anticipated to be above £16.3 million, ahead of expectations. <br> <br> Persimmon said that its underlying profit would be at the top end of expectations, ranging from £75 million to £96 million. This follows a 10% increase in turnover achieved during 2010 to £1.57 billion. <br> <br> Meanwhile, Galliford Try’s housing completions rose 28% in the half year to December 31 2010. Its total reserved housing sales increased 11% to £359 million from £324 million. <br> <br> Barratt saw weaker results matching customer sentiment, with completions down from 5,053 (2009/10) to 4,832. But the housebuilder still reported “significant” improvements in operating profit – its operating margin increased 5% from 2.4%. <br> <br> The housebuilders said that they remained cautious in the face of continuing economic uncertainty.<br> <br>

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