Taylor Wimpey sees continuing stabilisation

18th Jan 2010 07:02

Housebuilder Taylor Wimpey said market conditions in both the UK and North America during 2009 were better than those experienced during the previous year, although they still remained challenging. The group expects to report full year results for the year ended 31 December in line with forecasts.Year end net debt was about £750m, in line with the group's recently upgraded guidance and substantially below the £1,529m at 31 December 2008. 'Our UK business has maintained its encouraging performance since our Interim Management Statement in November and we enter 2010 with a very strong order book position, up 28% by volume compared to the end of 2008,' said the group.'In North America, we are encouraged by the prolonged period of stability we have experienced since early 2009,' it added. However, market conditions are likely to remain challenging in Spain during 2010.Sector peers Bovis, Barratt Developments and Persimmon have all recently released relatively upbeat trading statements, though all remain cautious on prospects for 2010.