Taylor Wimpey Woes Building

Posted by Nogger - a legend in his own mind at 08:53 | Categorized as

Troubled Taylor Wimpey plc, the U.K.'s largest homebuilder, reported first half losses of 1.42 billion pounds Wednesday morning after writing down the value of land and said it remains in talks with banks to avoid breaching loan terms.

Shares in the company fell to 44 pence following the news before recovering slightly to 46 pence, marking a fall of 77 percent since the turn of the year.