Member Article

Taylor Wimpey witnesses positive growth

Home builder Taylor Wimpey is anticipating an improvement in its financial results in the first half of the year, as the business benefits from a shortage in supply of new homes.

The firms’ solid performance has been supported by a “stable” UK housing market, despite recent news that the UK is back in recession. If these conditions continue the group expects to post a steady improvement period on period. Analysts now predict that full-year returns for 2012 will be around £207 million. This represents a 30% increase on 2011.

Commenting on the results, chief executive Pete Redfern said: “We think it is most likely that the current conditions will continue, but that doesn’t mean it’s certain.

Any potential risks come from outside the housing market, and relate primarily to the banking system, although these risks have existed for some time without significant impact on the markets.

Taylor Wimpey is the second biggest housebuilder in the UK by volume, and is continuing to purchase land when possible at attractive return levels.

As of 1 July, the company’s order book grew to £960 million, up from £932 million in 2011.

This was posted in Bdaily's Members' News section by Ruth Mitchell .