Taylor Wimpey reports promising start to 2013

Aaron Morby 11 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

Carpenter killed by falling timber frame panels

Court fines specialist contractor £8,000 after site tragedy
11 hours ago

Road sweeper specialist files administration notice

Go Plant lodges court notice
17 hours ago

Anglian Homes rides in to finish crashed Everest contracts

Rival doubled glazed window specialist commits to complete orders
16 hours ago

Final work starts to connect super sewer to London system

End in sight with 1.5m thick concrete wall to be demolished to link-up to Lee Tunnel sewer system
17 hours ago

Legal challenge launched against £1.5bn A66 dualling

Balfour Beatty, Kier and Keltbray must now await outcome of court challenge
17 hours ago

John F Hunt wins 24-storey Battersea tower

Specialist to carry-out demolition, enabling works and RC frame construction
2 days ago

William Hare wins steelwork on £500m Broadgate towers

Specialist to work on 2 Finsbury Avenue with McAlpine
2 days ago

McAlpine appoints MD to grow ventures business

Owain Thomas will build on private rental and healthcare development successes
1 day ago

BAM Co-op Live Arena opening delayed yet again

Another gig cancelled last night amid last minute safety concerns
2 days ago

National Grid unveils winners for £9bn network upgrade

New 'enterprise model' to deliver infrastructure schemes quicker and cheaper
2 days ago

Turkish insulation panel maker to build £45m UK factory

Assan Panel to open first UK plant at Freeport East
2 days ago

Expanding consultant Stantec swoops for Hydrock

Stantec UK business expands by a third as 950 staff join from Bristol-based engineer
2 days ago

Contractors wanted for £800m highways deal

Bids invited for Eastern Highways Alliance Framework 4
2 days ago

Galliford Try names group head of infrastructure

David Lowery promoted to Divisional Managing Director – Infrastructure.
2 days ago

Chigwell Group looks at stock market listing

Essex contractor registers as Public Limited Company
3 days ago

A57 Mottram Bypass clears final legal challenge

Balfour Beatty to get go-ahead to start shortly
3 days ago

100 jobs axed as Geoffrey Osborne confirms administration

Chairman Andrew Osborne calls it a 'sad day' as board loses fight for survival
3 days ago

Midgard set for Notting Hill office tower overhaul

Landmark project edges towards final approval after 10-year planning saga
3 days ago

Cumbrian civils firm clinches £40m Sellafield contract

Civils specialist Stobbarts will support McAlpine on groundworks and concrete
3 days ago

Designers named for London 2000-bed student rooms job

Bouygues will build £400m London School of Economics student scheme next to Tate Modern
3 days ago

£117m-turnover contractor files administration notice

ARJ Construction lodges court notice
4 days ago

£1bn London Blackfriars tower blocks approved

Trio of buildings rising to 45, 40 and 22 storeys approved by Southwark Council
4 days ago

Council decides to end Balfour deal after 13 years

Contractor has been maintaining roads across Herefordshire since 2013
4 days ago

Six civils clients to switch to low carbon concrete and steel

National Highways, Northumbrian Water and Sellafield sign fresh decarbonising pledge
4 days ago

Fortem extends homes repair deal across Birmingham

Willmott Dixon owned firm adds another two years to deal worth £170m
4 days ago

Kier wins £118m civil service Darlington hub

Work is expected to start towards the end of this year
5 days ago

Green light for 34-storey Digbeth apartments tower

480 flats will be delivered for Clarion housing association
4 days ago

LHC starts race for major retrofit and decarb framework

Hunt starts for firms to help with 6.1m social homes upgrade target
5 days ago

Windows giant Everest crashes into administration

Around 350 jobs at risk while hunt starts for a buyer to salvage business
5 days ago

Green light for £500m Newcastle health complex

Mixed use scheme will promote healthy living across all stages of life
5 days ago

Contractor services