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.”
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