Half year results released today for the six months to July 3 show the house builder is well on its way to hitting its “double digit” margin target by 2012.

Taylor Wimpey is continuing to target margins over volume as the number of new homes completed during the period dipped to 4,707 compared to 4,804 last time.

Operating profits were up to £67.2m from £51.1m as turnover dropped to £817.8m from £846m.

Average selling prices remained flat at £168,000 but Taylor Wimpey improved its land management strategy and continued to drive down construction costs.

The firm said: “We continue to benefit from additional build cost savings, having achieved our 10% target ahead of schedule, and from our ongoing programme of replanning sites within our existing land portfolio to optimise margins.”