Wimpey Double Whammy On Completions and Prices

Evening Standard - London › January 06, 2006

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Summary

HOUSEBUILDER George Wimpey warned today it will miss ambitious City forecasts for 2005 as it admitted house sales fell by volume and value.

Blaming a "very tough" year when buyers were unnerved by doom merchants, Wimpey chief executive Peter Johnson, pictured, today said group profits would be at the lower end of market expectations. Analysts took that to mean around Pounds 360 million against a consensus Pounds 380 million. In a trading update ahead of full- year results next month, Wimpey said completions fell 1% to 12,100 and the average selling price slid 4%. Johnson admitted the firm has had to offer discounts to attract buyers.

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Wimpey Double Whammy On Completions and Prices

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