Strong 2011 market continues into new year

Jan. 1, 2012
Housebuilders are reporting market conditions that are better than expected as 2012 begins on a positive note for the industry.<br> <br> Taylor Wimpey has reported that "the first two weeks of trading in 2012 have followed the encouraging patterns of the second half of 2011, with good visitor levels, healthy reservations and low cancellations".<br> <br> The firm says it expects group operating profit in the second half of 2011 to rise by more than 80% year on year and for the firm to hit double digit operating margins in the period, describing the market as "robust".<br> <br> "In 2011 we have taken the opportunity to focus on our strategy of delivering value for shareholders through margin improvement and improving return on capital," said Taylor Wimpey chief executive Pete Redfern. "It is pleasing to be well placed to deliver future improvement providing market conditions remain broadly stable."<br> <br> Other housebuilders also reported a strong end to 2011. Bovis expects pre-tax profit for the year to hit £31 million as the firm sees an increase in margin, sales and completions. And despite a "challenging market", the firm says it is well positioned to improve returns in 2012 and beyond.<br> <br> Barratt reported …

Continue reading

To continue reading this article please login or register.

Login

Forgot your password?

Register for free

Quick and free registration

Register