Taylor Wimpey on track in face of Brexit

Taylor Wimpey said it is on track to deliver results in line with expectations, despite a backdrop of increasing political uncertainty. The housebuilder said its order book value had risen to £2.7bn, up 12.5% from last year. Excluding joint ventures it has 10,433 homes, up 6% from last year. It said its strong order book was key to managing short term market uncertainty. The housebuilder said it was operational on 252 outlets in the year to date, down from 274 the previous year. Sales rates per outlet per week averaged at 0.96, up from 0.81. It said forward indicators for sales “have remained at healthy levels”, but warned of “increasing customer caution” in London and the South East. Taylor Wimpey expects to end 2019 with a net cash balance of around £500m, compared to £664.1m last year. Chief executive Pete Redfern said: “In spite of wider political and economic uncertainty, housing market conditions have remained resilient. “In the second half we continued to see good demand for our homes, and have built a very strong order book.” To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette