GEORGE WIMPEY PLC Interim Results for the half year ended 30 June 2001 Tuesday 31 July 2001.

Slides:



Advertisements
Similar presentations
July 17, 2009, Atlas Copco Group Q2 Results July 17, 2009.
Advertisements

Woolworths holdings limited Revenue up 15.1% to R13.0bn Operating profit up 24.3% - R1.3bn Operating profit margin widened from 9.0% to 9.7% Net profit.
Interim Results Chief Financial Officer David Grigson 23 July 2002 Financial Highlights.
George Wimpey Investor Visit Sovereigns, Beaulieu Park Chelmsford 14 June 2002.
2013 Results 1 Positioned for further growth 2013 Results 27 February 2014.
Interim Results Presentation For the 6 months ended 30 September th December 2008 Nick Paul Chairman Mike Welburn Chief Executive.
Transforming Wimpey: a year of change Peter Johnson Chief Executive - GEORGE WIMPEY PLC HSBC HOUSING CONFERENCE 19 October 2001.
Preliminary Results David Grigson Finance Director 17 February 2004 Financial Highlights.
George Wimpey Plc 2004 Preliminary Results Tuesday 22 February 2005.
Industry response to The Barker Review Peter Johnson Chief Executive, George Wimpey Plc Merrill Lynch Housing Market Conference Friday 23 April 2004.
February 2, 2009, Atlas Copco Group Q4 Results February 2, 2009.
Preliminary Results 26 May Ian Much Chief Executive.
P R E L I M I N A R Y R E S U L T S 1 March 2006.
Gaining the Benefits of Scale Peter Johnson George Wimpey PLC 19 April 2001.
P R E L I M I N A R Y R E S U L T S 7 March 2007.
McBride plc : Interim Results 9 February 2006.
INTERIM REPORT 2006/07 4th December 2006 Presentation to Analysts and Investors.
George Wimpey Plc A Tale of Two Markets: UK and US Panmure Gordon Investor Presentation Thursday 21 April 2005.
I N T E R I M R E S U L T S September months to June 2005 £ million Half Half% inc. Group sales % Operating profit before.
1 George Wimpey Plc Interim Results for the half year ended 2 July August 2006.
1 SAI Global Limited ABN: Half-Year Results Presentation Half-Year Ended 31 December 2006 ASX Code: SAI APPLIED INFORMATION SERVICES “SAI.
Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall. To make informed decisions about a company Helpful in managing the company Comparison.
Presentation to Carillion The Equipment Rental Specialists 9 th June 2010 The Equipment Rental Specialists Vp plc Final Results for the year ended 31 March.
George Wimpey Improving performance Peter Johnson Group Chief Executive 11 December 2000.
Interim Results September 6th, Australia No. 1 Regional Publisher No. 2 Radio Operator No. 1 Outdoor Operator LEADING MEDIA BRANDS Portugal No.
Workspace Group PLC Interim Results For the six months to 30 September 2004.
Investor Relations Presentation September INVESTOR RELATIONS PRESENTATION - SEPTEMBER 2002 Agenda Introduction David Calverley Chief Executive Highlights.
1 Full Year Results Presentation Full Year Ended 30 June 2006 ASX Code: SAI Thinking Business SAI Global Limited ABN:
DAIRY CREST GROUP PLC PRELIMINARY RESULTS TO 31 March 2002 Delivering added value growth and attractive returns for shareholders.
GEORGE WIMPEY PLC Interim Results GEORGE WIMPEY PLC st half results.
Full Year Presentation 9 August This presentation relates to the Freightways Limited NZX announcement and media release of 9 August As such.
Preliminary Results for the year ended 31 st December th March 2008 Delivering sustainable growth.
Half-Yearly Review 2011 Six months ended 31 December 2010 ®
Interim Results David Grigson Finance Director 27 July 2004 Financial Highlights.
GEORGE WIMPEY PLC Acquisition of McAlpine Homes 14 August 2001.
 McBride plc Key Message Business Strategy has again delivered Full Year Profit, Cash and Dividends in line with market expectations.
1 The world’s leading manufacturer of collagen products for the food industry 2008 Interim Results Presentation 28 August 2008.
Interim Results Presentation 2004 Galliford Try plc.
1 Tricorn Group plc Final Results For year ended 31st March 2013 June 2013.
1 George Wimpey Plc Preliminary Results for the year ended 31 December February 2007.
Disclaimer The information in this presentation does not constitute an offer to sell or an invitation to buy shares in George Wimpey Plc or any other.
Interim Results For the six months ended 30 September 2006 Rental and sale of specialist products and services to construction, civil engineering, rail,
ASG Group Limited FINANCIAL RESULTS PRESENTATION - FY2006 Geoff LewisMD and CEO Dean LangenbachChief Financial Officer.
Lavendon Group plc 2006 Preliminary Results Presentation March 2007.
0 HARDY UNDERWRITING GROUP PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2002 ANALYST PRESENTATION 25 SEPTEMBER 2002.
Preliminary Results Presentation – September 2005 Preliminary Results Presentation Year to 30 th June 2005.
Disclaimer This presentation is being made only to and is directed at (a) persons who have professional experience in matters relating to investments.
FBD Holdings plc 2007 Interim Results August 2007 A.
Interim Results for half year ended 30 June 2002 Wednesday 4 September 2002.
SECOND QUARTER 2004 EARNINGS John A. Luke, Jr. Chairman and CEO James A. Buzzard President Peter H. Vogel, Jr. Interim Principal Financial Officer July.
HMI Conference 2004 The challenges facing the Board Peter Johnson CEO George Wimpey Plc Tuesday 7 September 2004.
George Wimpey PLC 2000 Preliminary Results Wednesday 21 February 2001.
Interim Results Presentation 2005 February 2005 Investor Relations Presentation.
George Wimpey Plc Annual General Meeting 2006 The Royal College of Physicians Thursday 20 April 2006.
1 26 February 2010 Interim Results to 31 December 2009.
Preliminary Results Presentation For the year ended 31 March th June 2008 Nick Paul Chairman Mike Welburn Chief Executive.
McBride plc : Interim Results 10 February 2005.
Disclaimer This presentation is being made only to and is directed at (a) persons who have professional experience in matters relating to investments.
George Wimpey Plc Annual General Meeting 2004 The Royal Aeronautical Society Thursday 22 April 2004.
George Wimpey Plc Annual General Meeting 2005 The Royal College of Physicians Thursday 14 April 2005.
Creation of a focused gaming business Hard Rock disposal 7th December 2006.
Vp plc The Equipment Rental Specialist Interim Results for the six months ended 30 September 2007 Rental and sale of specialist products and services to.
Atlas Copco Group Q2 Results July 17, Contents  Q2 Business Highlights  Market Development  Business Areas  Financials  Outlook.
Vp plc The Equipment Rental Specialist Final Results Year ended 31 March 2007 Rental and sale of specialist products and services to construction, civil.
George Wimpey Plc Annual General Meeting 2004 The Royal Aeronautical Society Thursday 22 April 2004.
1 Tricorn Preliminary Results For year ended 31st March 2010.
Croda International Plc Results for 6 months to 30 June 2006.
FBD Holdings plc 2008 Interim Results August
Preliminary Results 5 March 2008
Atlas Copco Group Q2 Results July 17, 2009.
Presentation transcript:

GEORGE WIMPEY PLC Interim Results for the half year ended 30 June 2001 Tuesday 31 July 2001

2001 Interim Results Headlines performance on track… ° operating profit up 13% to £66.2 m ° PBT up 11% to £53.1 m …in both businesses ° UK operating profit close to last year at £54 m ° US operating profit up 81% to $22.1 m restructuring continues ahead of plan ° bulk of £20 m forecast savings in 2001 ° additional cost savings of £15 m by 2003

Agenda H1 Financial Review Andrew Carr-Locke Business ReviewsPeter Johnson Summary and Outlook Peter Johnson

2001 H1 Financial Review Andrew Carr-Locke

2001 First half results JuneJune % change revenue £ m operating profit* £ m exceptional items £ m (14.2)-- profit before tax* £ m earnings per share* p dividend per share p * before exceptionals

First half results operating profit before exceptionals up 13% to £66.2 m UK restructuring completed, majority of £20 m savings to be seen in 2001 US profits up 81% in dollar terms

First half results interest cover 5.1 times tax rate 23% EPS before exceptionals up 12% to 11p interim dividend up 9.4% to 2.9p

First half cash flow cash outflow of £181 m (2000:£146 m) end June gearing 59% (2000:55%) land spend £261 m, same as last year acquisition of Richardson Homes in Denver for $22 m

Balance sheet Over last 12 months net debt up £76 m to £410 m shareholders’ funds up £83 m to £694 m return on equity before exceptionals 17.7% (2000:17%) net assets up 21p to 187p land holdings up £136 m

Exceptional operating costs £ m redundancies 6 asset write-downs and IT 2 property voids and office move costs 5 transition costs 1 14

Segmental analysis Operating Operating Revenue Profit Margin % % % £m Change £m Change % Increase UK * USA Corp 6 - (3.1) Group * * Before exceptionals

Segmental analysis US revenue up 34%, 23% in dollar terms US profits up 96%, 81% in dollar terms US margins up 2.6% to 8.1% UK margins improve 0.3% to 10.5% corporate costs below last year’s £3.6 m

2001 completions Completions Ave Price % % NoChange£/$000 Change UK:PD £ Social £ UK:Total £ USA: $ Group Total £

UK completions lower UK completions due to fewer outlets coming into the year UK average selling prices up 8% to £118,000 selling rate up 9% on last year average size up 2%, 60% detached volume of sales proceeding up 12% on last year

US completions US completions up 21% US average selling prices up 6% to $236,000 acquisition of Richardson Homes Denver, Jacksonville start-up volume of sales proceeding up 12% on last year outlets 89, up 17%, selling rate good average size 2,400 square feet

Land UKUSA land spend £ m22247* short term plots31,92011,500 change since December(1,530)1,530 land bank in years * Includes Richardson Homes land £8 m

Financial summary results show further improvements achieved benefits from UK restructuring US growing successfully strong interest and dividend cover second half looking good

Business Review Peter Johnson

UK: market Short-term cautious; longer term positive strong through H1 - prices > expectations site visitors and selling rates remain healthy national affordability near long run average London above average, but no problems yet South somewhat above average - but supported by planning driven shortages longer term outlook very favourable

UK: progress on restructuring “Major focus is to ensure restructuring programme delivers on promises made” excellent progress made action to integrate fast and lock in cost savings running rate of savings already at £20 m great majority will be achieved in 2001 restructuring costs held to £14.2 m vs forecast £15 m

UK: progress on restructuring “Seek opportunities to improve margins: gain further benefits from our scale ” substantial potential quantified land acquired at better margins procurement and build cost savings projected at £15 m by 2003 group overheads down

UK: progress on restructuring “Seek opportunities to improve margins: increase sales of options and extras” potential for substantial improvement sales of options £3,300 per house H cf £3,100 per house for whole of 2000 new marketing suites being introduced following business review big potential in Wimpey Homes businesses

UK: progress on restructuring “Seek opportunities to improve margins: increase exposure to higher margin markets” continued progress: much more to do average size up 2% detached + flats up from 66% to 69% selling prices up 8% to £118,000 >£100,000 up from 45% to 53% average plot cost up 31% to £40,000

USA: market Short term cautious; longer term positive most markets continued strong through H1 weaknesses limited to hi-tech locations - esp Austin and Sacramento; Florida strong recent consensus forecast for new single family home sales for 2001 is 2.7% decline strong underlying demand vs supply longer term outlook favourable

USA: progress on strategy Growth sustained: 89 communities vs 76 in H and 84 in H market position held - 2,389 sq ft vs 2,397 H and 2,319 H new business established in Jacksonville Richardson Homes acquired in Denver additional profits from land title joint venture in Florida

Summary and Outlook Peter Johnson

A sound business UK quality sustained: 66 NHBC Quality Awards in 2001 product base improving: much more to do USA first class business - strong in local markets excellent management team culture based on customer - lessons to learn

Better margins: encouraging initial progress UK restructuring complete without major mishaps and ahead of plan substantial further benefits identified business culture transformed: ° new management team in place ° decision making streamlined ° office relocation within 8 weeks ° UK and US now working together

Outlook UK market most likely to remain stable ° market indicators mixed but mostly positive ° some short-term risk in London and south-east ° continued price inflation expected elsewhere most local US markets remain robust strong order book for second half ° sales proceeding up 12% - UK and 12% - USA ° visitor levels remain strong ° focus on getting outlets open for 2002

GEORGE WIMPEY PLC Interim Results for the half year ended 30 June 2001 Tuesday 31 July 2001