Taylor Wimpey has war chest worth £300m

Published 01st Apr 2011

Taylor Wimpey was last night sitting on a £300m war chest to buy land in the UK after selling its North American operations for £595m.

The housebuilder, which came close to collapsing under debts of £1.9bn in the recession, is planning a spending spree as it focuses exclusively on Britain.

Chief executive Pete Redfern said: ‘It has been a tough two or three years but this is the final step in getting the balance sheet in the right place and putting us in a strong position for the next five years.’

Source: ' ThisIsMoney '

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