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Wimpey down

NEWS IN BRIEF

Profits at house builder George Wimpey slumped 16 per cent in 2005 as the company suffered from a weak UK housing market.

Pre-tax profits fell from a record £437.6 million in 2004 to £366.5 million last year. Group turnover was up 1 per cent to £3 billion as a 5 per cent sales fall in the UK was offset by a 20 per cent increase in the US .