Completions near 15,000 at TW

Taylor Wimpey increased completions to 14,842 homes in 2017, up 4.6% on the previous year according to final results released today.

With average selling price (excluding joint ventures) up to £264,000 from £255,000, TW saw revenue increase 7.9% to £3.965 billion. Pre-tax profit was up 10.7% to £812 million, however profit for the year reached £555.3 million, down 5.8%, due to the net exceptional charge of £105 million in relation to the leasehold provision recognised in the period.

"2017 was another strong year for Taylor Wimpey and we enter 2018 in a good position with positive forward momentum,” said Taylor Wimpey ceo Pete Redfern. “We have been encouraged by early trading patterns at the start to the year and despite some wider macroeconomic uncertainty, consumer confidence remains robust and market fundamentals are solid.”

Redfern added that he was pleased to see that TW’s investment in customer service has resulted in a notable improvement in customer satisfaction scores.

“We enter 2018 with a strong order book and are well positioned to make further progress against our medium term targets and in delivering long term value for shareholders," added Redfern.

TW says it has made a good start to 2018 and …