Taylor Wimpey profits up with ‘very positive’ start to 2019

Housebuilder Taylor Wimpey has posted a 5.5% rise in pretax profit, with ‘strong demand’ for homes continuing into 2019. Profit before tax and exceptional items grew to £856.8m in the year to 31 December. Chief executive Pete Redfern said: “2018 was another strong year for Taylor Wimpey with good progress against our strategic priorities. We delivered in line with our expectations, achieving a strong sales rate and record revenues. “Despite ongoing macroeconomic and political uncertainty, we have made a very positive start to 2019 and are encouraged to see continued strong demand for our homes. We enter the year with a strong order book and a clear strategy in place to deliver long term value for shareholders.” Taylor Wimpey also stated its support for the government’s aim to wind down the Help to Buy scheme. The housebuilder said: “Help to Buy has been popular with our customers and has supported them in getting onto and moving up the housing ladder, however, we believe that the changes announced are appropriate and are in the best long-term interests of the housing market and homebuyers.” To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette