Member Article

Taylor Wimpey report strong order book

Taylor Wimpey says profits for 2012 are expected to be at the upper end of expectations and operating profit up over 40%.

The house builder said mortgage availability remained restricted, although some lenders have reduced rates, and they hoped to see this trend continue as the Funding for Lending scheme gets going.

The company’s order book increased in value by 14% on entering 2013, representing some 5,966 homes.

Pete Redfern, Chief Executive, commented: “2012 was another year of significant progress for Taylor Wimpey with an increase of over 40% in Group operating profit.

“We are delivering on the strategy that we set out in 2011, including a return to UK double digit operating margin ahead of schedule. As we look forward to 2013, we are confident that we will continue to deliver against our key objectives and target further improvement.”

A statement from the company said: Two weeks into 2013, consumer sentiment towards the housing market is more positive than we have seen in recent times. Clearly it is too early to judge the market for the year, but we maintain a positive, although cautious view in the short term.

“The successful implementation and ongoing execution of our value-focused strategy has allowed us to build on the improvements which we have delivered consecutively over the last three years.

“Our well positioned sales outlets, high quality land portfolio, increased order book and strong balance sheet give us confidence to target further improvements and create increased value for our shareholders in 2013 and beyond.”

This was posted in Bdaily's Members' News section by Tom Keighley .