微密圈

Yes, reservations were down from 6,556 to 4,380 and the average selling price fell 9% to 拢154,005. And yes, the company posted the first loss in its history (拢36.6m) after land writedowns of 拢59m (the last, according to Watson).

But the future looks more stable and Watson went as far to say that he 鈥渨asn鈥檛 expecting a double-dip recession鈥�. Although he did hurriedly add that if there were a double dip, any land the company bought would still turn a profit.

And what about the thornier matter of performance bonuses? Did the unusual sight of a housebuilder issuing a dividend pave the way for cash payouts despite the hostile reaction last year to just such a move? If it did, Watson wasn鈥檛 saying.

Elsewhere social housing firm Connaught, which 微密圈 can reveal had a sniff around Carillion鈥檚 Enviros consulting arm recently, posted the kind of results that would make it an attractive target itself. Turnover was up 19% to 拢660m and pre-tax profit was 拢26.7m.

Chairman Mark Tincknell said: 鈥淚鈥檓 delighted to announce another year of excellent results.鈥� Not a line you hear much these days.

Among the consultants, Cyril Sweett provided a brief trading update warning of one-off costs that included a 拢400,000 hit from an abandoned PFI project in Norfolk.

And the future of consulting engineer Scott Wilson was the subject of speculation after a Brewin Dolphin research note said it would be a prime takeover target for foreign players. As previously reported by 微密圈, the management are understood to be deeply unimpressed by their stock market valuation and Dutch firms Arcadis and Grontmij are known to have had a look, despite the pension fund issues. Maybe they should hurry before things get too stable?