HOUSEBUILDER George Wimpey said yesterday it was still on course for record profits, despite a slowdown in the housing market.
The company, which also runs Laing Homes, said five interest rate rises and media speculation about prices had affected its order book.
Despite the tougher market, Wimpey said it remained on course to meet City forecasts of profits of between £430m and £440m, compared with £378m last time. It also said the long-term fundamentals supporting the UK market continued to be good, with rates expected to stay historically low.
The trading statement came a day after shares in rival Persimmon rose three per cent on the back of an update showing forward sales at the same level as last year's.
The company said average selling prices at the George Wimpey division in the second half were likely to be similar to those achieved in the first half, resulting in an overall increase of about nine per cent for the full year.
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