Housebuilders' results set to spread gloom
Sunday 24 August 2008
Taylor Wimpey and Bovis Homes are expected to report dire half-year results this week.
MF Global Securities has forecast pre-tax profit of £60m at Taylor Wimpey, down 76 per cent on the first six months of last year. Bovis is expected to slump 60 per cent to £18m.
Andrew Gardner, MF's housebuilding analyst, said that the market hoped for an update on Taylor Wimpey's attempts to renegotiate with its banks to avoid breaching its covenants next February. However, Mr Gardner said there was little indication that a deal was any closer than when existing backers failed to bail the builders out last month.
Kevin Cammack, an analyst at Kaupthing, said that "it will be a tough old message from Taylor Wimpey and Bovis". He thought companies were unlikely to call the bottom of the housing market, as Persimmon seemed to do in its results last week.
Costain also reports interims on Wednesday, looking to build on 2007's performance that saw it pay its first dividend in 17 years.
- 1 Rice Bucket Challenge: India's take on the Ice Bucket Challenge 'for Indian needs'
- 2 Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
- 3 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 4 Rubble Bucket Challenge: Ice Bucket Challenge adapted in solidarity with Gazans whose homes have been destroyed in conflict
- 5 Car tax disc changes: Make sure you know the new rules from 1 October or risk £1,000 fine
Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
The 13 obscure UK laws you didn’t know you were breaking
13 laws you didn't know you were breaking
Car tax disc changes: Make sure you know the new rules from 1 October or risk £1,000 fine
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Jeremy Clarkson is a cultural tumour and needs to be removed, says comedian Frankie Boyle
Air strikes? Talk of God? Barack Obama is following the jihadists’ script after James Foley beheading
- < Previous
- Next >
iJobs Money & Business
£23000 - £26000 per annum: Ashdown Group: Account Executive / Client Services ...
£36000 - £38000 per annum: Ashdown Group: Executive PA to CEO & Executive Dire...
£25000 - £28000 per annum: Ashdown Group: Generalist HR Administrator - Tunbri...
£45000 - £75000 per annum + benefits+bonus+package: Harrington Starr: Senior C...