Wimpey sees stateside drop


  • Share via facebook
  • Tweet this
  • Bookmark and Share

UK homebuilder, George Wimpey, has announced a 35% slump in the value of its US order book.

The company said that the weakening housing market had impacted all US homebuilders, including its own business, Morrison Homes, and that it expected the US housing market to remain weak until mid-2007.

However, the group added that a continued strong performance in the UK is largely offsetting the tougher trading conditions in the US.

It said in a statement: “Assuming no further deterioration in the US market we anticipate trading for the year will be in line with our expectations.”

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Five ways to maximise productivity during Ramadan

Five ways to maximise productivity during Ramadan

A drop in productivity during Ramadan is generally accepted by...

Facelift or folly: Belgrade braces for Dubai-style makeover

Facelift or folly: Belgrade braces for Dubai-style makeover

Construction for the Belgrade Waterfront project is due to kick...

How potential loopholes could limit impact of Saudi land tax

How potential loopholes could limit impact of Saudi land tax

Move aims to help the government meet promises to build 500,000...

Most Popular
Most Discussed