Wimpey, Wilson build on 2001 gains

HOME sales and prices are up on the same period last year, said two of Britain's major housebuilders, George Wimpey and Wilson Bowden. The increases come on top of record earnings for both companies, courtesy of the soaring housing market last year.

Peter Johnson, chief executive at Wimpey, said the group had 'entered 2002 with a record forward sales position'. He added that he can 'see no sign of anything that can cause the market to run backwards'.

Wimpey's US housing division is also sharing in the boom as interest rates hit 40-year lows. During 2001 pre-tax profits before exceptionals climbed 24% to £181m. The full-year dividend is up 10% to 8.25p. Wimpey shares added 22 1/2p to 265 1/2p.

David Wilson, group chairman and chief executive at Wilson Bowden, also reported record pre-tax profits with a 15.3% increase to £139.2m. The group completed 3,908 houses in 2001 against 3,604 in the previous year. Wilson could build even more this year as sales in 2002 are currently 'well ahead of this time last year'.

Shareholders will get a 12.6% bigger total dividend of 22.3p. Wilson Bowden shares added 20p to 887 1/2p, their highest level for five years.