Taylor Wimpey merges pensions October 2, 2013 Taylor Wimpey yesterday announced it has successfully merged two legacy pension schemes to create the Taylor Wimpey Pension Scheme, helping to save £800,000 in costs per year. The housebuilder said it merged the George Wimpey Staff Pension Scheme and the Taylor Woodrow Group Pension & Life Assurance Fund to create the single new scheme with [...]
Bovis Homes see average selling price soar to £210,000 as completions rise 54pc July 8, 2014 Bovis Homes has seen a 54 per cent rise in completions in the first half of 2014; its highest ever number of completions for the first half of a financial year. According to its latest trading update completions stood at 1,487 for the first six months of 2014, up from 963 in the corresponding period last [...]
Bovis sees property sales boom on back of Help-to-Buy housing scheme July 8, 2014 A boom in Britain’s property market and the government’s Help-to-Buy scheme have helped to boost house buying and have led Bovis Homes to report its best-ever first half sales. The Kent-based housebuilder announced yesterday that it had completed 1,487 sales in the six months to the end of June, a massive 54 per cent increase on the [...]
London Report: Home lending up but rise in UK prices is slowing July 27, 2014 MORTGAGE approvals figures appear likely to show the housing market is moving again, after tough new MMR loan tests slowed lending figures. However, house price data due on Thursday suggests prices may not be soaring as much as earlier this year. They are expected to have risen 0.5 per cent month-on-month in July – the [...]
Focus On… The City: residential is finally taking off in the Square Mile September 5, 2014 When it comes to residential developments, the Square Mile has a bit of an image problem. The ancient financial heart of the City of London has been abuzz with business for 1,000 years and it’s still graced by some of the capital’s most impressive architecture. Around 370,000 people go there to work every day, but [...]
Barratt profits double on sales at six-year high July 10, 2014 Barratt Developments, the biggest housebuilder by volume in the UK, yesterday announced it expected annual pre-tax profits to double to around £390m, buoyed by higher demand from a strong property market. The earnings figures would be record-breaking for Barratt, beating analyst forecasts and up from £192m in 2013. The forecast comes as the group saw [...]
Ex-UBS analyst Rosenberger is on top at the StarMine Analyst Awards July 2, 2014 StarMine, one of the more analytical of the analysts gongs, has revealed its top names for 2014 exclusively in City A.M. Part of the Thomson Reuters Awards for Excellence programme, the StarMine Analyst Awards measure the performance of sell-side analysts based on the returns of their buy and sell recommendations relative to industry benchmarks; and [...]
London report: Housing data to show soaring market levelling July 6, 2014 Housing prices are likely to be in focus this week, as two surveys show prices are still rising, though the market is levelling off. The RICS survey, published today, is expected to show less growth than in past months. Barclays’ Armela Mancellari said: “We expect the overall balance to have edged down [...]
Best of the Brokers for 14 April 2014 April 14, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com RIO TINTO UBS thinks the mining group is a “buy” and has a target price of £40 ahead of a production update tomorrow. The broker thinks iron ore output will be eight per cent down on the previous quarter, due to tough weather [...]
London Report: FTSE falls from highs on global growth jitters July 7, 2014 BRITAIN’S top share index retreated from a three-week high yesterday on concerns about the pace of global economic growth, with cyclical sectors such as miners and banks worst hit. The blue-chip FTSE 100 index ended 0.6 per cent lower at 6,823.51 points after climbing to its highest since early June in the previous session. The [...]