Taylor Wimpey reports promising start to 2013

Aaron Morby 12 years ago
Share

House builder Taylor Wimpey said it was confident about prospects for 2013 as trading and lending showed signs of improvement.

The firm said that two weeks into 2013, consumer sentiment towards the housing market was more positive than it had seen for several years.

The house builder, which is jostling shoulder to shoulder with Barratt to be Britain’s biggest house builder, said it had delivered a 40% uplift in operating profits in 2012.

Margins hit double digits ahead of schedule and the firm is cautiously buying land using proceeds from the sale of its US house building arm.

Pete Redfern, chief executive, said: “As we look forward to 2013, we are confident that we will continue to deliver against our key objectives and target further improvement.”

Taylor Wimpey started this year with a substantial order book of £948m, 14% up on last year and representing  5,966 homes, nearly 600 more homes than the same time last year .

But it said it remained focused on prioritising both short and long term margin performance ahead of volume growth.

Using Government initiatives to stimulate house building, Taylor Wimpey helped customers buy 1,203 homes under the Government’s FirstBuy scheme and 546 homes under the NewBuy and MI New Home schemes.

The house builder also won additional FirstBuy funding for use on selected sites.

In a pre-results trading statement, the house builder said that while mortgage availability remained restricted, some major lenders had recently reduced their rates, a trend it hoped would continue as the Funding for Lending scheme gained traction.

“Subject to ongoing stable market conditions, we anticipate a natural growth in completions in 2013, as our strong order book, land acquisition strategy and planning approvals on strategic sites organically increase our outlet numbers,” he added.

Latest news

Higgins Homes and site workers face manslaughter charges

Contractor and four site staff charged after woman killed by falling pallet of bricks
16 hours ago

Midgard lands £145m deal to build Edition Birmingham

Construction to start shortly on twin residential towers
18 hours ago

McAleer & Rushe set to break £500m turnover barrier

Pre-tax profit jumped 16% to £46m last year
19 hours ago

Top design team picked for £2.5bn York Central scheme

Massive city centre regen scheme moves to detailed design
22 hours ago

MoD to bid £100m command HQ enabling works

Hertfordshire joint forces command centre expansion advances
22 hours ago

Failed shed specialist Marbank owed suppliers £10m

Contractor was facing a string of adjudication claims
22 hours ago

New scaffolding training trade body launches

Scaffolding Training Alliance formed amid disquiet caused by planned training changes
15 hours ago

£1.8bn framework planned for green retrofit drive

Procure Plus to invite bids later this month
22 hours ago

Breakthrough for HS2 as first Birmingham tunnel section dug

Balfour Beatty VINCI completes 3.5-mile TBM drive in 652 days
4 days ago

HS2 Curzon Street station redesign approved as timber roof axed

Change to meet stricter fire safety rules and cut maintenance costs
4 days ago

Care home fire trial collapses

Prosecution withdrawn against four firms including Morgan Sindall Property Services
5 days ago

Leicester rebids £22m station revamp after failed tender race

Council opts for ECI route after receiving one bid for project
4 days ago

Kier wins £58m East Coast College rebuild job in Great Yarmouth

Work to start this summer for 1,300-student college
4 days ago

R G Carter wins £28m hospital car park job in King’s Lynn

MSCP paves way for £1.5bn Queen Elizabeth Hospital rebuild in 2027
4 days ago

London to relax green belt building rules

Sadiq Khan shifts position on planning
4 days ago

Willmott Dixon wins Great Yarmouth waterfront deal

North Quay 10.5 acres mixed-use scheme to advance
5 days ago

SIG chief quits to join Travis Perkins

Gavin Slark to leave by the end of this year
4 days ago

Eight take key spots on £250m Prosper framework

Housing and public building upkeep deal for North East awarded
5 days ago

Early call-out for £150m Ebbsfleet Garden City infrastructure

Bidders day to set out plan for Ebbsfleet Central commercial scheme
6 days ago

McLaren storms April contracts league with flurry of wins

Cardiff Bay Arena job headlines a series of big contract wins
5 days ago

Balfour Beatty lifts cash forecast after strong first quarter

Contractor set to hit £1bn average monthly net cash in 2025
5 days ago

Goldman Sachs-owned Adler & Allan buys 180-strong civils outfit

West Country's Glanville Environmental gets new owner
5 days ago

Caddick lands first contract for £200m Skelmersdale revamp

Developer gets green light for masterplan
5 days ago

Van Elle sells HGV fleet to haulage firm

WS Specialist Logistics pays £2.9m to take on fleet and drivers
5 days ago

Buyers more bullish about prospects for year ahead

Residential "resilient" but commercial work a weak spot
6 days ago

Council backs first Brutalist car park-to-flats scheme

Newcastle-under-Lyme multi-storey car park to be reborn as pioneering homes scheme
6 days ago

Hinkley Point C hits peak build with 26,000 jobs

3,000 more workers to join as fit-out work ramps up
6 days ago

Over 40 firms win Wessex Water M&E minor works deal

Broad sweep of specialists picked for AMP8 programme
6 days ago

Spencer lands Scottish bridge hat-trick

Steelwork, gantries and bearing upgrades on Kessock, Forth and Tay crossings
7 days ago

Winners revealed for £1.5bn decarbonisation deal

Fusion21 confirms places for 40 firms: Full list
6 days ago

Contractor services