"Healthy market conditions" delight George Wimpey

George Wimpey PLC has forecast today (Friday) that the "healthy market conditions" in the UK and US are expected to continue.

"And our businesses are well placed to take advantage of them", the company said ahead of a meeting with analysts and investors.

"The strong sales performance to date, along with actions taken to sustain margins and control costs will ensure George Wimpey continues to achieve further progress in 2004."

After 13 weeks, the housebuilder said more than 60% of expected sales for the year have been completed or reserved in the US, with combined volumes of 34% and revenue 35% ahead of the same period last year.

In the UK, over half projected sales for the year have been completed or reserved, it said.

Total volumes either completed or reserved are 4% ahead and revenue 14% ahead of the same period last year in the UK, despite the reduced number of outlets open, as reported in February.