Wimpey hunts as industry profits surge

Oct. 1, 2002
<b></b>George Wimpey is still looking to buy another housebuilder if the right deal comes along at the right time, according to managing director Keith Cushen. The firm has been linked with a purchase of Laing Homes, but Cushen would not comment on specific companies. The firm was announcing a 63% surge in profits to &amp;£86.3 million to June 2002.<br>But Laing Group chairman Bill Forrester says Laing Homes does not need to be sold to finance the group&amp;’s long-term strategy. Laing Homes helped the group post a fi<p></p><p>rst-half pre-tax profit of &amp;£13.5 million against a loss of &amp;£49.7 million last time. </p><p> Meanwhile Wilson Bowden&amp;’s half-yearly profits surged 30% to &amp;£76 million while Persimmon reported a 40% rise. Bovis pre-tax profits jumped 45% to &amp;£41.4 million, Bryant operating profits soared 39% and Miller&amp;’s housing arm also saw a healthy rise.</p><p> But Wilson Connolly, despite being ahead of schedule to cut costs, reported a &amp;£5 million year on year dip in pre-tax profits to &amp;£16.1 million. </p><p> Most companies had a bullish view of the market, reflected in the latest HBF survey results</p><p><b><br> <b>HBF Monthly Survey Summary Results</b><br> <b>Activity in the month compared with the same month a year ago (balance*)</b><br> &amp; …

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