Taylor Wimpey reports record performance
Taylor Wimpey’s full-year results for 2015 report record performance, with more than 13,000 homes built across the UK.
Revenue was up 16.9% to £3,139.8m and the profit before tax and exceptional items was £603.8m, up from £450.1m in 2014.
Chief executive Pete Redfern added that 2016 has continued to be positive across all regional markets, with demand strong and good access to mortgages.
Operational highlights for the year include completion of a total of 13,219 homes (excluding joint ventures) across the UK, representing a rise of 7.5% on 2014. There was an 8.0% increase in total average selling price to £230,000.
The company reported that the UK housing market remained robust during late 2015 and has strengthened into the beginning of 2016. The market continues to show price growth and very good sales rates across most areas. In central London, the market is stable, with flat prices and sales rates returning to a more normal level.
Taylor Wimpey has one of the largest strategic land pipelines in the sector with about 107,000 potential plots, together with a short-term landbank of about 76,000 plots.
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This article was published on 1 Mar 2016 (last updated on 1 Mar 2016).