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14/08/2001
Wimpey buys up McAlpine for £461m
House building company George Wimpey have taken over smaller rival Alfred McAlpine Homes in a £461 million deal that will see Wimpey axe up to 450 jobs.
According to Wimpey’s Chief Executive, Peter Johnson six of McAlpine’s regional offices will close and there will be a round of jobs cuts in both companies.
However, the deal is set to improve Wimpey’s house building business in the lucrative market in the south of England where house prices have continued to rise sharply.
Mr Johnson described the acquisition bid as a “financially attractive opportunity” that would increase the company’s portfolio.
Commenting on the disposal, Sir Terence Harrison, the Chairman of Alfred McAlpine, said: "We have reviewed all opportunities in order that the value created from the operational and financial progress achieved in each of our two business streams may be recognised more fully.
"We have concluded that on the right financial terms, the greatest value for McAlpine shareholders could be achieved from the disposal of McAlpine Homes."
(SP)
According to Wimpey’s Chief Executive, Peter Johnson six of McAlpine’s regional offices will close and there will be a round of jobs cuts in both companies.
However, the deal is set to improve Wimpey’s house building business in the lucrative market in the south of England where house prices have continued to rise sharply.
Mr Johnson described the acquisition bid as a “financially attractive opportunity” that would increase the company’s portfolio.
Commenting on the disposal, Sir Terence Harrison, the Chairman of Alfred McAlpine, said: "We have reviewed all opportunities in order that the value created from the operational and financial progress achieved in each of our two business streams may be recognised more fully.
"We have concluded that on the right financial terms, the greatest value for McAlpine shareholders could be achieved from the disposal of McAlpine Homes."
(SP)
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Insurer's closure sees 1,600 jobs axed
Up to 1,600 jobs have been axed by Norwich Union today after it decided to close its national broker subsidiary, Hill House Hammond (HHH). The company said 1,200 redundancies would be compulsory, and around 400 staff will be found alternative roles throughout Norwich Union’s UK-wide redeployment process.
21 November 2005
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
Small rise in UK house prices
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10 May 2005
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Retail sales in the UK fell to their lowest level in a decade, according to new figures from the British Retail Consortium (BRC). The figures showed that retail sales in the UK in April fell by 4.7% on a like-for-like basis and by 1.3% on total basis, compared with last year’s figures.
BRC reports retail sales drop
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26 June 2002
NI house prices amongst fastest growing in UK
House prices in Northern Ireland have been growing faster than anywhere else in the UK outside London and the Home Counties, according to business advisors PricewaterhouseCoopers (PwC). According to the latest issue of PwC’s ‘UK Economic Outlook’, London house prices rose by 250% since 1995, followed by the southeast of England and East Anglia.
NI house prices amongst fastest growing in UK
House prices in Northern Ireland have been growing faster than anywhere else in the UK outside London and the Home Counties, according to business advisors PricewaterhouseCoopers (PwC). According to the latest issue of PwC’s ‘UK Economic Outlook’, London house prices rose by 250% since 1995, followed by the southeast of England and East Anglia.
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