Summary
HOUSEBUILDING stocks were pulled lower yesterday after Wilson Bowden said it expected half-year property completions to be 10% lower than a year ago, The Leicester-based group added that trading conditions remained broken with the outcome for the year still dependent on a return in buyer confidence Wilson shares slipped almost 3%, dragging rivals George Wimpey and Barratt Developments down by similar amounts. A clutch of other stocks were also lower following the update from Wilson, which achieved record profits of pounds 260.5m last year.
Yesterday's caution mirrors earlier comments from Wilson when it told its annual meeting in April that a buoyant 2004 had been followed by a tougher trading environment, particularly due to uncertainty caused by the General Election.See the full content of this document
Extract
Wilson Awaits Upturn As Housebuilding Stocks Dip
It said: 'Housing market conditions hav...
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