Taylor Wimpey Share Discussion Threads

[racg] 06/7/2010 10:54

Yes but pukey he would of died a hero and got the VC for gallantry, whilst you d be still working in the catering core, berating all the new conscripts.

[barf2] 06/7/2010 09:43

You wouldn't have been would you? You'd already have gone over the top thinking everything was rosy and the enemy weren't real!

[wig123] 06/7/2010 09:38

bloody hell barf2, wouldnt want to be in the trenches with you m8 ;-)

[barf2] 06/7/2010 09:30

26p todays ceiling?

Let TW get up a little head of steam [about half the head of steam of the rest of the sector admittedly]before unloading a load of stock into it and pegging the share price at sub 26p,then pull it down over the afternoon.

[sir brainy] 06/7/2010 09:11

it's 46p target for me

[wig123] 06/7/2010 09:11

stay positive ;-)

[fewdollarsmore] 06/7/2010 09:09

sorry Wig just cannot help myself..

[fewdollarsmore] 06/7/2010 09:06

also it is morning normal service should resume around late morning onwards..

[wig123] 06/7/2010 09:05

miserable git ;-)

[fewdollarsmore] 06/7/2010 09:05

I would not get too excited I will not be remotely happy until we are back in the late 30's

[wig123] 06/7/2010 08:58

time to give the bears a big hug aye ;-)

[wig123] 06/7/2010 08:50

06/07 08:48 - UPDATE: Persimmon Prepares For Seasonally Strong Autumn Season

By Anita Likus

Of DOW JONES NEWSWIRES


LONDON (Dow Jones)--Persimmon PLC (PSN.LN), the U.K.'s largest house builder by market capitalization, Tuesday said it will open up new sites to prepare for the normally stronger housing market in the autumn, after beating analyst expectations, which sent shares higher.

"We are optimistic about the autumn season," Chief Executive Mike Farley told Dow Jones Newswires in an interview, although he added that he remains cautious about investment decisions until mortgage availability improves further. He also said that, while there is some clarity in the housing market, the macro economic situation is less clear.

In its trading update, Persimmon said it had booked GBP1.5 billion worth of home sales for the year already, beating analysts expectations for some GBP1.7 billion for the full year. It also reported margins at 7.5%, when it previously guided for 7% for the year, and against 1.5% for the same period last year.

The news lifted its shares. At 0730 GMT, they were up 17 pence or 4.8% to 363 pence in a higher London market.

Analysts welcomed the statement and Citi analyst Clyde Lewis said consensus forecasts will be raised.

Persimmon reported completions for the six months to June 30 up 16% to 4,657 homes while the average selling price rose 8% to GBP168,500 with underlying price growth of about 3% since Jan. 1. The rest of the price increase came from the change in the sales mix as the company focuses on selling traditional family homes.

The company also reduced its borrowings to GBP122 million at June 30, which represented gearing of 7%. CEO Farley said he would be happy to increase debt if necessary, although he can continue replenishing the land bank with the cash the company makes from sales.

Persimmon bought 4,000 plots of land during the period and has agreed terms on a further 3,500 plots, which maintained its land holdings at Dec. 31 levels.

U.K. house builders have just been through one of the worst downturns in decades, with tight mortgage financing pushing sales lower and reducing house prices. But as the situation improves, builders are trying to stock up on cheap land, to enable strong margins when they start building on it. Rival home builder Berkeley Group Holdings PLC (BKG.LN), for instance, has used this strategy to buy land cheaply at the bottom of the market and therefore avoided taking write-downs in the recent recession.

Other house builders opted to raise additional funds in the market to buy up land. But Persimmon is the only volume house builder to have neither placed shares nor exercised a rights issue over this market downturn.

CEO Farley said he is confident he will be able to replenish the six-year land bank from existing cash flow.

Just as the market started recovering, house builders also had to endure a period of uncertainty due to the general election, which drove sales lower. Persimmon said that, while sales prices and margins have increased since the start of the year, it has experienced a slowdown in sales reservations since early May.

But the company, as other rivals such as Taylor Wimpey PLC (TW.LN), which reported last week, said that since the U.K. government set out its budget proposals, sales have been in line with internal expectations and cancellations remained at about 16%. The company reported turnover for the period up by some 26% at GBP785 million.

Persimmon shares closed Monday at 348 pence giving the company a market capitalization of GBP1.05 billion. The company will announce its first-half results on Aug. 24.


-By Anita Likus, Dow Jones Newswires; [phone]; [e-mail]


Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: You can use this link on the day this article is published and the following day.


(END) Dow Jones Newswires

July 06, 2010 03:48 ET (07:48 GMT)

[spennysimmo] 06/7/2010 08:39

well a 2,000,000 trade just went through. Just after 2 x 1,300,000 trades.

4,600,000 traded in 5 minutes.

9,3000,000 in the first 40 minutes and that is only on LSE.

[wig123] 06/7/2010 08:38

NewKid, you should of offered that advice a few weeks ago ;-( suffered 3 bloody margin calls on these so far, hopefully no more!

[barf2] 06/7/2010 08:36

Can anyone else smell a massive overhang being worked through? Some of the recent trades suggest that a massive,massive overhang is coming to the close and a few decent sized trades are taking up a position ready for a rise.

Just wishful thinking I expect.

[newkid] 06/7/2010 08:33

wig123. I wouldn't bank on it.

[wig123] 06/7/2010 08:17

patience is a virtue ;-) , coupled with bdevs update on 15th should put us back on an even keel....................... hopefully !

[barf2] 06/7/2010 08:15

Judging by the price at the time I think those 2 x 1000000 were buys.Must be due a holdings update soon with all the stock that has changed hands of late.

[barf2] 06/7/2010 08:11

Only a temporary interruption.Do not adjust your sets.

[gbh2] 06/7/2010 08:09

TW is appearing Green for some reason, may have to adjust my screen colours!

[barf2] 06/7/2010 08:05

You'd think it would have a knock on benefit here but I somehow doubt it.
Still under the cosh.

[restassured] 06/7/2010 07:53

Good news out of the sector this am

[racg] 05/7/2010 19:21

Dr Evil is keeping the price down, yeah!