Taylor Wimpey’s latest trading update to the City today shows that the housebuilder is on course to achieve an operating margin of at least 10% next year, despite a fall in UK home sales during the half of this year. In a statement, Taylor Wimpey’s chief executive Pete Redfern said that the group’s full year profits will be ahead of current projections, with the group witnessing a significant improvement in operating margins from 6.7% in second half of 2010. Redfern commented: “I am very pleased with our ongoing performance improvement in the UK. We are well positioned to deliver further margin improvement in the UK, beyond our double digit operating margin target for 2012, through the development of our extensive strategic land portfolio.” The company, which is currently working on 313 sites across the UK, up from 284 last year, is expecting to complete 4,550 homes during the first half of 2011 at an average selling price of £170,000 compared to 4,804 last time for £168,000. A company statement said: “We remain focused on maximising the value achieved from each home completion and expect to report a strong improvement in the UK operating margin at the half year results.” Shares in Taylor Wimpey, a FTSE 250 listed company, increased by almost 1% to 37.4 pence this morning. |
 |
||||||||||||
 
CategoriesAberdeen Football ClubAffinity Sutton Affordable homes Balerics Boris Johnson Bovis Homes British Property Federation Budget Camposol Golf Canton FX Commercial property Countryside Properties Crest Nicholson Cushman & Wakefield Deutsche bank Devon Dubai Erna Low Europe First Steps France FTSE 250 George Osborne Germany Government Guildford Harrods Estates HBF Integrated Relocation Spain Istanbul Sapphire Jade Jagger JJB John Heron Jones Lang LaSalle Keepmoat Knight Frank L&Q Landmass Lewisham Liam Bailey Liz Peace Lodhagroup London Malaysia Manchester Mark Stucklin Mauritius Mayfair Mortgages Mumbai Murcia New Homes NOMA Nuneaton Overseas Property News Paragon Mortgages Persimmon Homes Polaris World Portugal property investor news Recep Tayyip Erdogan Renewal Rightmove Savills Scotland Scottish Government Sheffield Spain Spanishpropertyinsight.com Stewart Baseley Suffolk Taylor Wimpey Taylor Wimpey de Espana Turkey UK Property News Yvette Ruggins
|
|
 |
||||||||||
    |
||||||||||||
