UK Daily View: Redrow writedown wipes out profits
The housebuilder refinances its debts and forecasts gloom until 2010
UK housebuilders
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Taylor Wimpey debt deal delay
The global financial crisis is pushing the embattled housebuilder into further talks with its lenders as it continues to seek a new financing package to take it through the worst housing market in memory
OFT criticises planning regime
Planning regulations are to blame for housebuilders failing to develop vacant land, fuelling perceptions of a lack of competition in the sector, according to an Office of Fair Trading report
Housebuilders face extra tax on rents
Property developers could be forced to repay VAT they have already claimed back because of the difference in tax treatment of selling and letting properties
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Results diary
Bellway
August 14: Bellway said home sales had fallen more than 10 per cent in the six months to July and margins were under increasing pressure
Bovis
August 26: Bovis said pre-tax profits in the first six months were down to £9.5m from £58.4m. Revenues were down two-fifths to £149.3m from £259.9m
Persimmon
August 21: Persimmon reported a 64 per cent slump in pre-tax profits and slashed its dividend but said conditions were beginning to stabilise
Taylor Wimpey
August 27: Taylor Wimpey’s said discussions over its debt were ongoing as it reported a steep fall in pre-tax profits
Berkeley
December 5: Berkeley Group reports results for the half-year to October 31. Preliminary results in June showed a pre-tax profits up 3 per cent to £194.3m
Redrow
July 9: Redrow said its dividend policy was under review and it would cut its worforce by 40 per cent. It was also likely to write down the value of its land bank
Barratt
September 10: Barratt announces preliminary results. In July it said it would scrap its final dividend and cut 1,200 jobs
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