CITYWATCH WRITING BACK AND SIGNING OFF

摘要

As the dozen or so housebuilding analysts filed out of their meeting with Persimmon last Tuesday, there was some head-scratching over why it had written back the value of its land by £28m in its half-year results. From an ornate hall attached to the offices of Merrill Lynch in St Paul's, some decamped to a nearby pub to discuss the matter further.