George Wimpey says house sales rates in 2006 have gone up |
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Published
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Fri, 21 Apr 2006 09:30
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LONDON: Housebuilder George Wimpey Plc. said its U.K. sales rates in 2006 have been "well above" those in 2005. The company had also seen a return to price increases in some locations, mostly in the south.
The company's Morrison Homes' unit in the U.S. experienced sales rates at similar levels as those seen during the first few weeks of 2006, but there were some variation at a regional level, and below the very strong levels experienced during 2005. It said the slower market conditions would necessitate use of incentives.
The company had, at the time of announcing its yearly results in February, said the housing market in the U.K. was gaining confidence. At the annual general meeting Thursday, chairman John Robinson told shareholders that the trend had continued.
Rivals like Taylor Woodrow and Barratt Development were known to be targeting the company for a possible takeover.
George Wimpey's shares were down 1.4 per cent at 529.5 pence, valuing the company at more than 2 billion pounds.
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Taylor Woodrow banks on its U.S. performance 