Financial Times FT.com

Taylor Wimpey takes further £527m writedowns

By John O’Doherty

Published: August 5 2009 10:42 | Last updated: August 5 2009 10:42

An improvement in home prices and a decrease in cancellations since Christmas have cheered Taylor Wimpey, although profits and revenues at the housebuilder still remained below last year’s level as the group took a further £527m in writedowns on its land and work in progress.

Shares in Taylor Wimpey closed 1¼p lower at 38¾p on Wednesday.

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