Wimpey sees stateside drop


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!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Abandoned in Saudi desert camps, migrant workers won't leave without pay

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Plight of workers has alarmed their home countries and drawn...

2
Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Basra's plan to build the world's next tallest tower: Is this the MidEast's most ambitious or most foolhardy project?

Basra's plan to build the world's next tallest tower: Is this the MidEast's most ambitious or most foolhardy project?

With Dubai's Burj Khalifa and Jeddah's 1km Kigdom Tower, the...

1
Most Discussed
sponsoredTracking