Taylor Wimpey margin tops 20%
House-builder Taylor Wimpey reports that its operating profit margin reached a new high in 2015, topping 20%.
In a trading update for the year ended 31st December 2015, Taylor Wimpey said that its total home completions increased by 7% to 13,341 and the overall average selling price increased by 8% to £230,000 (2014: £213,000).
With the market continuing to strengthen through the year, the company ended the year with £225m net cash in the bank and a record order book of £1,779m, excluding joint ventures, up 27% over the year. This represents 7,484 homes.
Chief executive Pete Redfern said: "We have delivered a strong trading performance in 2015, in a positive housing market, building more homes than at any point in the last six years and delivering a record operating profit margin of over 20%. We are confident that the principles we are operating to will deliver long term sustainable value across the housing cycle, and we remain focused on working with communities and our customers, suppliers and employees to drive continual improvement in the quality and consistency of our operational business."
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This article was published on 11 Jan 2016 (last updated on 11 Jan 2016).