Taylor Wimpey tips full-year profit at ‘top end’ of forecasts

Taylor Wimpey expects full-year profit to be at the higher end of its forecasts, despite falling sales. The housebuilder said profit would be “at the top end” of its guidance, which was between £440m and £470m. However, total UK completions, including via joint ventures, stood at 10,438, down from 13,773 in 2022. Affordable homes amounted to 2,388, or 23% of total completions. The net private sales rate, excluding bulk deals, fell from 0.65 to 0.54. Chief executive Jennie Daly said: “Despite the difficult market conditions throughout the year, we maintained a sharp operational focus and delivered a good performance.” She said that while the reduction in mortgage rates was “encouraging”, “in the short term the market remains uncertain and the planning backdrop extremely challenging”. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Photo © Taylor Wimpey