Taylor Wimpey on track to meet FY guidance
Taylor Wimpey
131.45p
17:05 25/04/24
House builder Taylor Wimpey said it was on track to deliver full year results in line with expectations, with slightly higher volumes and lower operating margins than previously guided.
FTSE 100
8,078.86
17:14 25/04/24
FTSE 350
4,434.34
17:09 25/04/24
FTSE All-Share
4,387.94
16:49 25/04/24
Household Goods & Home Construction
12,457.72
17:09 25/04/24
Sales rates for the year to date remained strong at 0.96 sales per outlet per week compared with 0.81 a year earlier, “driven by our high-quality sites and improvements in both product availability and build capacity that we have made over the last 18 months”, the company said in a trading statement on Wednesday.
“Forward indicators for sales have remained at healthy levels albeit we have seen some increasing customer caution, particularly in the higher-priced markets of London and the South East, as a result of the ongoing political and economic uncertainty.”
Taylor Wimpey said its current total order book at November 10, excluding joint ventures, was 10,433 homes, up from 9,843 in 2018.The order book stood at £2.7bn, up 12.5% year on year.
“Over recent months we have seen a softening in the cost pressure experienced earlier in the year and expect that cost inflation will reduce as we go into 2020. We are focused on increasing cost discipline to mitigate future build cost inflation and optimise margin,” the company said.