Taylor Wimpey reports 20% rise in operating profits
Taylor Wimpey has reported a 20% increase in operating profits in a trading statement issued today for the year to December 2015.
It said the strong housing market meant an improved financial performance and an increase in completions.
The housebuilder said that in 2015, total home completions increased by 7% to 13,341, while average selling prices on private completions increased by 9% to £254,000, alongside a 27% increase in the year-end order book to £1,779m.
Taylor Wimpey has reported a 20% increase in operating profits in a trading statement issued today for the year to December 2015.
It said the strong housing market meant an improved financial performance and an increase in completions.
The housebuilder said that in 2015, total home completions increased by 7% to 13,341, while average selling prices on private completions increased by 9% to £254,000, alongside a 27% increase in the year-end order book to £1,779m.
Its short-term landbank stood at around 76,000 plots, with 8,000 converted from the strategic pipeline.
Pete Redfern, chief executive, said: “We have delivered a strong trading performance in 2015, in a positive housing market, building more homes than at any point in the last six years and delivering a record operating profit margin of over 20%.”
The housebuilder also said it welcomes the government’s commitment to housing delivery shown in the autumn statement, and looks forward to evaluating the full detail around the starter homes initiative.
The trading update was issued ahead of full-year results which will be announced on 1 March 2016.
Alex.peace@estatesgazette.com
