Mowlem set for take-off
Article Abstract:
UK builders John Mowlem and Company PLC Mowlem have made a 8.8 million loss in the year to Sep 1992. This is the result of the property market decline and a 3 million pounds sterling write-off on the Canary Wharf development. Mowlem believes that the construction workload is stabilising and that the housing market is improving. It has a large geographical spread of small, short-term contracts. Mowlem Bau-Tec, established in Berlin in 1991, plans to invest up to 4 million pounds sterling in East Germany, to generate a turnover of 40 million pounds sterling in 1992, with an increase of 30% in 1993.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
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Wimpey looks to long-term recovery
Article Abstract:
The UK's second largest housebuilder Wimpey's shares have increased by 20 pence to 120 pence in Feb 1993. Wimpey however will make a loss of in between 115 million pounds sterling and 125 million pounds sterling for 1992 with sales of 6,200 homes. Wimpey's Chief Executive Joe Dwyer believes that it will take 5 years for the housebuilding industry to recover. Wimpey's contracting turnover for 1992 decreased to 650 million pounds sterling from 714 million pounds sterling in 1991. It has made a number of divestments to raise money and redirect the group.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1993
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Raine finds its own Eldorado
Article Abstract:
Raine Industries acquired house builder, Walter Lawrence in may 1992. Raine is integrating Walter Lawrence with its existing contracting and house building interests. Analysts believe Raine will profit from Lawrence's Californian house building subsidiary, West Venture which could be sold for a good price when the US housing market recovers. Raine's profits for the year to Jun 1992 are expected to be about 6 million pounds sterling lower than in 1991 but the group is well placed and on a sound financial footing.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1992
User Contributions:
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