TW launches new business strategy

Taylor Wimpey will today unveil a new strategy for the business which it says responds to customer needs, focusing on improved products and places, a simplification of the buying process and “affordable access to the homes we build”. At the same time the strategy will see growth through greater landbank efficiency as the firm “works its assets harder”.

The firm is also setting new financial and operational goals for the next five years, including maintaining operating profit margins at around 21% to 22% and increased landbank efficiency, reducing the length of its landbank by about one year to four to four and a half years.

The firm announced an enhanced dividend “driven by increased confidence in delivering future growth”, increasing from 5% of group net assets to around 7.5%. This equates to at least £250 million per annum up from at least £150 million per annum.

TW has announced:

· A refocused business purpose, based on identifying and responding to customers' needs, focused on improved products, places, simplification of the buying process and affordable access to TW homes

· Increased opportunity for long term sustainable growth, through increased landbank efficiency

· …