Posted by
James Mace at 08:26 on 27 Aug 2008
The BBC is reporting today that well known house builder Taylor Wimpey has recorded a massive loss in the past six months.
The company lost £1.54bn in the six months up to 30 June after having to greatly reduce the value of its assets. Shares in the company now stand at 46.5p, an 11 per cent drop since yesterday. The firm is set to cut around 900 jobs in the UK as demand for houses drops in light of the credit crunch.
