Major housebuilders return to profit

Sept. 1, 2010
Housebuilders Taylor Wimpey and Bovis have both revealed a return to profit in recent half-year statements to the City. <br> <br> Taylor Wimpey posted a half-year £19.6 million pretax profit after 2009’s loss of £68.9 million, whilst Bovis returned a profit of £3.5 million compared to a loss of £8.6 million in the same period last year. <br> <br> Bellway reported that it had sold 5% more homes during the 12 months to July 31 2010. The company hopes to produce up to 10% volume growth in 2010/11 and said that with its order book of £421 million, and provided the Autumn market followed “its usual pattern,” this could be achieved.<br> <br>

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