Taylor Wimpey in for the long haul.
Investors Chronicle - magazine and web content, August, 2007
Taylor Wimpey may be in for a bumpy ride but the path looks a lot smoother over the longer term Jonas Crosland
At first glance July's merger of Taylor Woodrow and George Wimpey, to form the UK's largest housebuilder by market capitalisation Taylor Wimpey, will do little to mitigate the effects of what is generally accepted as a slowdown in the housing market.
And the combined group is more exposed than its peers simply because one third of its sales come from the US where conditions are worse than anywhere else. Indeed, a GBP86m write-down against the group's North American land bank due to a continued decline in California and Florida markets has made a large dent in the GBP100m planned cost savings from the merger. But it is not all bad news. Taylor...
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