Housebuilder expects full-year operating profit of around £444m
Taylor Wimpey has said it is on track to meet its operating profit expectation for 2025, despite a likely fall in its margin year-on-year.
The housebuilder, in a trading update today, said it expects its full-year group operating profit for the 2025 calendar year to be around £444m, as previously stated.
Taylor Wimpey said the spring selling season is “as expected”. Its net private sales rate for the year to 27 April increased from 0.74 to 0.77 units per outlet per week.
It said its sales rates is consistent with it delivering between 10,400 and 10,800 completions as previously forecast, with around 45% in the first half of the year.
But the group said it expects its half-year group operating margin to be lower than its underlying operating margin in the same period the previous year, which was 11% excluding high margin land sales.
It said this is due to the impact of underlying pricing in the order book at the start of the year being 0.5% lower year-on-year, flowing through to completions in the period.
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Jennie Daly, chief executive of Taylor Wimpey, said: “Notwithstanding the wider macroeconomic backdrop, affordability is improving with lenders remaining committed to the housing market, albeit first time buyers continue to experience some challenges.”
Daly said the government’s planning reforms are positive but cautioned that they “require increased resources and a focus on the implementation phase to drive outcomes and deliver much-needed new homes across the country”.
As of 27 April, Taylor Wimpey’s total order book value stood at £2.3bn, up from £2.1bn a year ago, consisting of 8,153 homes.
The firm will release its interim results on 30 July.
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