Taylor Wimpey’s pre-tax profit dips
Housebuilder Taylor Wimpey has recorded a dip in pre-tax profit, but has maintained its full-year outlook despite ongoing constitutional uncertainty.
Profit before tax dipped marginally to £299.8m in the six months to 30 June, from £301m.
However, operating profit was down by around 9.4% to £311.9m, on the back of rising build costs.
Housebuilder Taylor Wimpey has recorded a dip in pre-tax profit, but has maintained its full-year outlook despite ongoing constitutional uncertainty.
Profit before tax dipped marginally to £299.8m in the six months to 30 June, from £301m.
However, operating profit was down by around 9.4% to £311.9m, on the back of rising build costs.
The company completed 6,541 homes, compared with 6,497 in the previous year.
The number of sales per site per week reached a record of 1 across an average of 257 outlets, up from 0.83 in H1 2018.
Its order book increased by 10% to 10,137 homes during the period, with a value of £2.4bn.
Pete Redfern, chief executive, said: “We delivered a record sales rate in the first half as we saw strong customer demand for our homes in a stable market and the success of our strategy to build more homes on our larger sites coming through more quickly than anticipated.
“Despite wider political uncertainty, conditions for the housing market continue to be supportive with good affordability and access to finance. We have not seen any meaningful change in customer confidence, with positive underlying metrics and forward indicators. We expect full-year results for 2019 to be in line with expectations.”
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