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Realistbear

Wimpey Homes Sustains A Horrific 16% Profit Crunch

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More news that suggests Rightmove's exhuberance may be irrational:

http://www.sky.com/skynews/article/0,,3040...1,00.html?f=rss

"Wimpey has been hit with a 16% slide in pre-tax profits due to increased incentives to promote sales in the
battered UK housing market
."

http://today.reuters.co.uk/news/newsarticl...TION-WIMPEY.xml

"
We expect further weakening in UK operating margin in 2006
... We expect Wimpey's cost inflation to outstrip net house prices in a competitive market and,
in the absence of material volume growth,
we are forecasting a further fall in UK EBIT (earnings before interest and tax)," said Panmure Gordon Securities.

But....they do remain "encouraged." Nothing like keeping a stiff upper lip in dire circumstances.

Edited by Realistbear

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"Wimpey has been hit with a 16% slide in pre-tax profits due to increased incentives to promote sales in the
battered UK housing market
."

One of the bellwethers IMO.

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More news that suggests Rightmove's exhuberance may be irrational:

http://www.sky.com/skynews/article/0,,3040...1,00.html?f=rss

"Wimpey has been hit with a 16% slide in pre-tax profits due to increased incentives to promote sales in the
battered UK housing market
."

http://today.reuters.co.uk/news/newsarticl...TION-WIMPEY.xml

"
We expect further weakening in UK operating margin in 2006
... We expect Wimpey's cost inflation to outstrip net house prices in a competitive market and,
in the absence of material volume growth,
we are forecasting a further fall in UK EBIT (earnings before interest and tax)," said Panmure Gordon Securities.

But....they do remain "encouraged." Nothing like keeping a stiff upper lip in dire circumstances.

Heres one from their outgoing CEO, wonder where he`s off to...golfing on one of Wimpeys overseas development no doubt ...

http://firstrung.co.uk/articles.asp?pageid=NEWS&cat=47

This order book quote, d`ya reckon it`s code for over supply/development? Who orders new houses..OMG...not Inside Track customers is it? :lol::lol:

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Heres one from their outgoing CEO, wonder where he`s off to...golfing on one of Wimpeys overseas development no doubt ...

http://firstrung.co.uk/articles.asp?pageid=NEWS&cat=47

This order book quote, d`ya reckon it`s code for over supply/development? Who orders new houses..OMG...not Inside Track customers is it? :lol::lol:

"But it said rapid growth in the U.S. market, which accounts for nearly 30 percent of group sales and helped Wimpey cushion a 32 percent drop in UK operating profit, had slowed, although its order book remained strong."

So the US market is propping up UK sales, but in its self is close to dropping. Sell Sell Sell :ph34r:

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that quality, looks like it could come crashing down soon! :lol:

Isn't that all of them loosing the massive profits now?

Big incentives.. big drops..

Then rightmove rocks up with its books full of the overpriced stuff (logically the cheaper stuff gets sold first)

and says selling prices have dropped.. only asking prices are up.. well they would be you can't sell the expensive ones

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One of my landlords just bought a Wimpey new-build townhouse, advertised at 325K, and they let him have it at 245k, under the stamp duty threshold :blink: so over an 80k saving. They were *that* desperate to get rid of it...... :lol:

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One of my landlords just bought a Wimpey new-build townhouse, advertised at 325K, and they let him have it at 245k, under the stamp duty threshold :blink: so over an 80k saving. They were *that* desperate to get rid of it...... :lol:

The BBC could truthfully report that as a Wimpey sale plummeting 20% +

How about this headline for the Beeb:

Property price Bubble bursts, New homes crash 20%!

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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