More pain for Taylor Wimpey
Published Date:
14 January 2009
HOUSEBUILDER Taylor Wimpey has warned of further losses caused by tumbling land values as it struggles in "very challenging" markets.
The firm, which wrote off £586 million in the summer, said it would need to make "further provisions" in the absence of any improvement in the UK.
Taylor Wimpey has taken action to reduce debts to £1.55 billion – including shedding 1,400 jobs in 2008 – but has yet to conclude a refinancing deal with lenders to manage the burden.
The full article contains 85 words and appears in The Scotsman newspaper.
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Last Updated:
13 January 2009 9:11 PM
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Source:
The Scotsman
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Location:
Edinburgh
