Wednesday, Dec 20, 2006

Wimpey's US crisis.

FT: Wimpey to write-down US assets

Current trading conditions in the US were described as very poor. Wimpeys order book value currently stands at some $198m, a 68 per cent drop on last year. In October the company had said the value of the order book was down 35 per cent. Prices and margins are well under last years levels. Completions are down 12 per cent and second-half cancellations are 50 per cent. Furthermore, the outlook for 2007 is poor with a further material drop in sales values and volumes forecast.

Posted by ceonathus2 @ 08:13 AM (1665 views)
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2 Comments

1. harold said...

I don't understand?!! House prices NEVER go down... don't they?

Wednesday, December 20, 2006 10:57AM Report Comment
 

2. Headmelter said...

I didn't know hamburgers were becoming so unpopular ;-)

Wednesday, December 20, 2006 11:01PM Report Comment
 

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