Advertisement

Profits surge for house builder Taylor Wimpey

Higher-quality locations combined with an increase in the average selling price underpinned a 40 per cent rise in the group operating profit of house builder Taylor Wimpey in 2012.

Higher-quality locations combined with an increase in the average selling price underpinned a 40 per cent rise in the group operating profit of house builder Taylor Wimpey in 2012.

Average selling prices on private completions increased by 6% to £197,000, according to the group's trading statement for the year ending December 31st.

Advertisement - Article continues below

The overall average selling price increased by 6% to £181,000 and home completions increased by 7% to 10,886.

Overall, the group's net private reservation rate for the full year was 0.58 homes per outlet per week, up from 0.54 in 2011. Cancellation rates were below the long-term average at 15.2%, down from 15.8% in 2011.

Pete Redfern, Chief Executive Officer of Taylor Wimpey, commented: "2012 was another year of significant progress for Taylor Wimpey with an increase of over 40% in Group operating profit. We are delivering on the strategy that we set out in 2011, including a return to UK double digit operating margin ahead of schedule. As we look forward to 2013, we are confident that we will continue to deliver against our key objectives and target further improvement."

MF

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020
Why the moving average is my favourite charting tool
Sponsored

Why the moving average is my favourite charting tool

Traders and technical analysts use "moving averages" to iron out daily fluctuations and give a much clearer picture of a market's direction. Dominic …
13 Jul 2020