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Taylor Wimpey reported a pre-tax loss of 拢640m for 2009, after taking a 拢604m writedown on land values in the first half of last year. It managed to make an operating profit of 拢43.3m on turnover of 拢2.6bn, down a quarter from last year, and to half debt from 拢1.53bn to 拢750m.

Meanwhile, Persimmon said it had made a better-than-expected underlying pre-tax profit of 拢7m, which was 94% down on the last year鈥檚 figure. Turnover was down 19% to 拢1.42bn. However, it did unveil a 拢74.8m writeback of the value of its land, bringing its full year pre-tax profit to 拢77.8m.

So what was not said? Well, despite concluding 拢260m of sales in the past eight weeks (8% higher than last year), Persimmon didn鈥檛 give any idea of how strong it thought this year鈥檚 recovery would be. Finance director Mike Killoran said a large number of unknown quantities, including an election campaign getting in the way of the Easter selling season, and the likely withdrawal of state aid to the banks, made it impossible to be certain the market would recover at all.

Meanwhile, Peter Redfern, Taylor Wimpey鈥檚 chief executive, said he was 鈥渃autious鈥� about giving any guidance as to the rest of the year. In addition, Redrow鈥檚 Steve Morgan, while reporting interim results last week that showed revenue up 25%, said uncertainty in the planning system was limiting his ability to introduce the firm鈥檚 new product range.

Another straw in the wind was last week鈥檚 data from the business and enterprise department that showed that house sales in January were at their lowest levels since February 2009, and Nationwide鈥檚 reporting of the first fall in house prices for 10 months.

Elsewhere, Carillion鈥檚 results for last year showed pre-tax profit up 27% to 拢148m on 拢5.4bn turnover.