George Wimpey has warned that first half profits would be “well below” the £158.5 million made last year. In a trading statement ahead of its first half results for the 26 weeks to July Wimpey said that sales rates would be down 17.5% on the same period last year. It also said that its total order book for the year was 7% lower by volume and 12% lower by value than at the same time last year. Wimpey chief executive Peter Johnson said: “We have given consistent messages out that the market is difficult. It is the most difficult housing market for 15 years.” But the statement gave a less downbeat outlook saying “the UK housing market is supported by a strong demand for and undersupply of housing, although in the short term we expect buyers to remain cautious with prices broadly stable.” (All media)