Taylor Wimpey Share Discussion Threads

[127tolmers] 23/2/2011 13:00

Positive report today

GALLIFORD TRY PLC INTERIM REPORT FOR THE SIX MONTHS ENDED 31 DECEMBER 2010

Strong results and housebuilding expansion on track

Financial Highlights

· 29% growth in pre-exceptional profit before tax

· £174 million construction cash balance contribution to better than forecast £30.7 million net debt

· 36% growth in interim dividend

Operational Highlights

· On track to deliver housebuilding expansion plan objectives in 2012

· 100% of plots for planned production in 2012 now secured, with 65% of 10,000 plot landbank acquired at current market values

· 19% increase in sales currently reserved, contracted or completed at £442 million (last year: £370 million), with encouraging increase in sales rate since start of 2011.

· 2.5% construction margin demonstrates resilient performance (2009: 2.4%)

· £1.75 billion construction order book (2009: £1.8 billion), underpinned by our success in securing large water schemes to add to our long term frameworks

Greg Fitzgerald, Chief Executive, commented:

"We are currently on track to deliver the objectives of our three year housebuilding expansion plan during the next financial year. The spring selling season remains crucial, and although it is too early to judge whether it will be sustained, the improvement in our sales rate during the first few weeks of 2011 is encouraging. Our strategy for managing our construction business in challenging times is working well and the underlying results give us confidence that we will be able to grow the business again when markets improve.

Although the economic outlook is still uncertain, the board is encouraged by the group's performance and progress in the first half of the financial year, and is confident in its strategy for delivering the objectives of its expansion plan."

[jibba_jabba] 23/2/2011 12:29

Existing Home Sales 1500..

[spennysimmo] 23/2/2011 08:35

Personally I think he is contradicting himself, himself, himself, himself.

[sir rational] 23/2/2011 08:29

I think the fourth point is better expressed

[imastu pidgitaswell] 23/2/2011 08:27

I would agree with the first point...

:-)

[newkid] 23/2/2011 08:13

Have to agree that it's all part of the negotiations. If you were looking to buy TM wouldn't you try to reduce the price?

[newkid] 23/2/2011 08:13

Have to agree that it's all part of the negotiations. If you were looking to buy TM wouldn't you try to reduce the price?

[newkid] 23/2/2011 08:13

Have to agree that it's all part of the negotiations. If you were looking to buy TM wouldn't you try to reduce the price?

[newkid] 23/2/2011 08:13

Have to agree that it's all part of the negotiations. If you were looking to buy TM wouldn't you try to reduce the price?

[jibba_jabba] 23/2/2011 08:08

MPC Meeting Minutes + BBA Mortgage Approvals 0930.

[bluprince] 23/2/2011 07:11

Smurfy "Looks like an old article."

The article regarding the US asset sale was on bloomberg yesterday and was also on bloomberg TV.

[barf2] 23/2/2011 06:56

Either that or the usual floated and pretty anonymous piece of garbage that the hedge funds like to throw and the market and jump on the back of to try and spook the share price into a fall.

Some of them will have lost a fair few quid [not their own mind,thier clients money]and will take any opportunity to try and wrestle back an advantage.

[imastu pidgitaswell] 22/2/2011 22:15

Nope - it was a current article:








Oddly, exactly the same piece in both publications (and a couple of others). And certainly a load of gossip - the only new point in the whole piece is some bloke from an outfit that nobody has heard of (remember that piece this morning?) comes out with "House prices are down again".

All part of the sale negotiations, methinks.

[sir rational] 22/2/2011 19:17

Current but a load of old gossip

[smurfy2001] 22/2/2011 19:08

BluPrince,

Looks like an old article. In future, you should post the original link so that the published date can be checked.....

[sir rational] 22/2/2011 18:31

Maybe. But there was obvious leaking that the offerors were going in around book ($1b)

[bluprince] 22/2/2011 18:09

Taylor Wimpey May Sell N. America Assets for Less Than Planned
--------------------------------------------------------------

Taylor Wimpey Plc, the U.K.'s second-largest homebuilder by volume, may raise less money than planned from the sale of its North America operations because of the U.S. market's weakness, an analyst at Susquehanna International Group LLP said.

Taylor Wimpey is in talks to sell the Scottsdale, Arizona- based unit, Taylor Morrison Inc., and values its net assets at 500 million pounds to 600 million pounds ($806 million to $968 million), Chief Executive Officer Peter Redfern said in a Jan. 18 interview. Today, a report showed that residential real- estate prices in the U.S. fell in the 12 months to December by the most in a year.

House prices are down again," Jack Micenko, an analyst at Susquehanna in New York said by telephone. Taylor Morrison "isn't worth $800 million today."

The S&P/Case-Shiller index of home values in 20 U.S. cities fell 2.4 percent. The median forecast of economists surveyed by Bloomberg News projected a 2.3 percent decline.

"We're not able to disclose anything specifically regarding what the pricing or valuation would be," said Anjali Unnikrishnan, a spokeswoman for Taylor Wimpey. The London-based company plans to use the proceeds from the sale to pay down debt and buy land in the U.K., Redfern said last month.

[imastu pidgitaswell] 22/2/2011 16:51

Slight odd price action all day - opening plunge, steady, sharp recovery to 37 and the stuck limpet-like for a couple of hours, a couple of thrashes to get away from it nut not really moving.

Still, I'm sure it means something to somebody. Manana...

[lyntwyn] 22/2/2011 16:43

"Wouldn't be surprised to see it recover to 37p+ as the day goes on"

spennysimmo, your crystal ball working very well ;-

[jibba_jabba] 22/2/2011 10:52

Wrong thread...

[fewdollarsmore] 22/2/2011 09:18

mass mark down accross the market..

time for one of you charts with all housebuilders Sir!

[spennysimmo] 22/2/2011 08:45

Big drop on low volume. Wouldn't be surprised to see it recover to 37p+ as the day goes on.