Oh dear, two large companies combine and, like an intergalactic "event" only negative matter remains....a case of 1 + 1 = 0.2

Let me say - sp a year ago was 10x today's - so this business has earned its place in the 90% club....and maybe more to come, as they will need to go overseas for cash, if the UK is dry.

I doubt there is a UK Builder with enough dosh to bail-out this dullard. They all thought they could expand until the UK burst with immigrants - yet they consistently went for pricier properties and projects where ( even now), there is some doubt whether there are enough jobs to support new-build developments.

EDIT ( Nov 2015 ) - Seven years on and we're at 183p - so anyone that bought at the all-time Low has done very well - but the Market was fearful and that meant few were Buying. 2009/2010 averaged about 40p - that was a good time if you had the LT cash.
With the rise and yield-multiplier effect, this is looking like Buying it was "probably" inspired.... but it has not regained that earlier Value - which will surely take a lot longer.

Deutsche Bank Buy 0.00 103.80 110.00 113.00 Reiterates

sp falling away after good start?

.

Quite a turnaround generally this morning in the sector this morning - maybe worth a punt here or on BDEV.

results on 31 july, expect dividend increase and perhaps even a special dividend from land write backs.

JP Morgan Cazenove Overweight 103.00 102.10 105.00 120.00 Reiterates

RNS Schroders below 5%?

Yes, just the odd 166m sold.

sold?

Have a look at box 8 - NOTIFICATION OF MAJOR INTEREST IN SHARES

skin read it earlier but didn't notice that many shares traded last Friday.

That's the day the threshold (5%) was crossed - not quite the same thing - they still own is 4.705% (153,049,151 shares) having sold 195,197,058 ish shares.

skin wouldn't surprise us if some other institution "pops up" as a major shareholder.

Half Year results

Delivering in an improving market

Highlights

· Further improvement against each of our key financial objectives:
o Group operating margin* increased to 13.1% (H1 2012: 11.0%**)
o Group return on net operating assets*** increased to 14.3% (H1 2012: 11.9%**)
o Tangible net asset value per share† increased by 16% to 67.2 pence (H1 2012: 58.0 pence)

· 80% increase in adjusted earnings per share to 2.7 pence (H1 2012: 1.5 pence)
· 49% reduction in net debt to £68.4 million (H1 2012: £135.2 million)
· Interim dividend of 0.22 pence per share (2012 interim: 0.19 pence)

· Strong UK operational performance:
o UK operating profit margin* increased to 13.5% (H1 2012: 11.2%**)
o Completed 5,191 homes at an average selling price of £188k (H1 2012: 5,083 homes at £176k)
o Contribution per legal completion increased to £39.6k (H1 2012: £33.6k)
o Record order book of £1.3 billion (1 July 2012: £960.1 million) up 35% in value and 24% in volume to 7,101 homes (1 July 2012: 5,720)
o Extensive strategic landbank at c.102k plots with over 35k plots added in last three and a half years
o Significant reduction in Injury Incidence Rate to 116 per 100,000 employees and contractors (H1 2012: 259)

Numis Hold 107.95 - 114.00 Reiterates

Deutsche Bank Buy 0.00 106.50 113.00 115.70 Reiterates

Liberum Capital Hold 0.00 106.50 108.00 113.00 Reiterates

Successful completion of refinancing

Taylor Wimpey is pleased to announce that it has completed the refinancing of its revolving credit facility, due to mature in November 2014, with a new revolving credit facility for £550 million to mature in August 2018.

I didn't realise until now that TW are paying a divi, due Wed 21st Aug (0.22p)

BlackRock > 5%

sp sub 100p heading south dearth of news except housing bubble prattle.