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Thu February 27 2020

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Taylor Wimpey upbeat for 2017

11 Jan 17 House-builder Taylor Wimpey has issued an upbeat trading statement saying that after a strong 2016 it starts 2017 well placed.

When Taylor Wimpey publishes its full results for 2016 at the end of next month, we can expect them to show earnings before interest, tax and amortisation (EBITA) in the region of £750m.

Taylor Wimpey built 13,881 homes in 2016, including its share of joint ventures, which is 4% up on the previous year (2015: 13,341).

"Against the backdrop of a stable housing market in 2016, we continued to see good demand and solid trading into the second half of the year, despite wider macroeconomic uncertainty," it said.

Average selling prices on private completions increased by 13% to £286,000 (2015: £254,000) and overall average selling price increased by 11% to £255,000 (2015: £230,000).

It starts 2017 with an order book representing 7,567 homes (up from 7,484 homes a year ago) and building on 285 outlets (31st December 2015: 297).

“We start the year in an excellent financial and operational position with significant embedded value in our short term landbank and strategic pipeline,” the board said. “We expect to demonstrate further progress throughout 2017 against all of our medium term targets, delivering increased returns for our shareholders and focusing on areas of the operational business where we can add value, including driving further improvements in our customer service processes and product quality.”

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