Article Abstract:
Prowting, a house building firm that operates in the South of England made a loss in the year to Feb 1992 but hopes to return to profitability in the half yr to Oct 92. Managing director, Terry Roydon claims house sales have risen by 10% but prices have fallen. He is optimistic about the long term strength of the house market in the South and the capability of his firm to benefit. Prowting has a large landbank with plots in desirable locations. Roydon is pressing for the government to increase incentives for people to mave house.
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Article Abstract:
Specialist house builder, Persimmon PLC is doing well despite the slow housing market. Persimmon has a long and relatively cheap land bank and is adept at acquiring land in good positions and obtaining planning permission. Persimmon claims to pay the highest directors' salaries in the UK house building industry and believes this encourages high performance. The company expects to achieve its target of 2,500 sales in 1992-3 and to increase profits by about five million pounds sterling.
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Article Abstract:
Housebuilder, Wilson (Connolly) is a conservatively run comapany which is well positioned to benefit from the expected recovery in the housing market. Managing director, Ian Black predicts the upturn will begin in the spring of 1993 and argues that his company is in a better position than larger competitors as it has land and finance in hand. However, the company's house building divisions expect sales in 1992 only to equal those of 1991 due to the rising trend in unemployment.
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