More pain for Taylor Wimpey
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.
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Weather for Edinburgh
Saturday 18 February 2012
Today
Cloudy
Temperature: -2 C to 6 C
Wind Speed: 26 mph
Wind direction: West
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Sunny spells
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