George Wimpey hit by US market downturn

Feb. 21, 2007
George Wimpey recorded a 15% drop in profits last year after the downturn in the US housing market hit its Morrison Homes business, slashing revenues by 11% to £756.2 million in the 12 months to December 31, with US operating profits down 31%. A £60 million charge due to a write-down of the value of US land inventories and options …

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