Taylor Wimpey looks to 2023 with strong half year

Nov. 11, 2021
<p>Taylor Wimpey says it is “pleased” with its second half performance to date and remains set to deliver results for its full year in line with previous guidance. Looking ahead, it is targeting “significant” completions growth from 2023.</p> <p><span>With the UK housing market remaining “positive” during the second half of 2021, the volume housebuilder achieved a “strong” sales rate of 0.91 homes per outlet per week in H2 to date against the 0.76 during the same period last year, and only slightly down on 2019’s 0.93.</span></p><p></p> <p><span>The business said its outlet openings had progressed according to expectations, with 64 new outlets opened in the year to date compared to 2020’s 56 and 2019’s 76.</span></p><p></p> <p><span>It added that it was “well positioned” for substantial volume completions from 2023; it plans to increase outlets by around an additional 50 by the middle of that year, after growing them in H2 2022.</span></p><p></p> <p><span>As highlighted in its half year results, Taylor Wimpey expects full year group operating profit to be around £820 million. Completions are anticipated to be towards the “upper end” of its guidance range of 13,200 to 14,000.</span></p><p></p> <p><span>For 2022, it expects “modest growth” in completions before 2023’s “more significant” outlet driven …

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