Taylor Wimpey pre-tax profits up 33%

July 30, 2015

Along with Rightmove who we had as a “Breaking News” item yesterday another major property industry company posted their half yearly results on wednesday,  showing a strong 2015 first half performance with pre-tax profits up 33%.

Chief Executive Pete Redfern, commented,”We have used the opportunity of a stable and positive housing market to make significant progress towards our medium term financial and quality objectives. We are confident of achieving the three year financial targets that we established in 2014, and continue to invest in recruiting and developing our people and enhancing the quality of our homes.In line with our strategy, we have proposed a cash return of £300 million to be paid in July 2016, which takes our total cash returns to shareholders since we started the programme in 2014 to £600 million.”

The operational highlights were that 5,842 homes were completed (excluding joint ventures) across the UK, with a 9.2% increase in total average selling price to £225k (H1 2014: 5,695 homes at £206k), this in a resilient and growing housing market, record contribution of £55.9k per completion (H1 2014: £45.3k per completion).

Significant progress was made towards the Group’s three year medium term targets: Operating profit margin up 310 basis points to 19.2% (H1 2014: 16.1%) Return on net operating assets up 540 basis points to 23.2% (H1 2014: 17.8%) Tangible net asset value per share increased by 11.5% to 82.1 pence (H1 2014: 73.6 pence).with 15.6%

The company is well placed to deliver further sustainable growth in returns and completions during 2015 and beyond: Landbank strong at 77k plots, with over 50% sourced from the strategic land pipeline, acquired 3,620 high-quality plots in the UK short term land market, converted 5,666 plots from the strategic pipeline

Excellent order book as at 28 June 2015 representing 8,120 homes (29 June 2014: 7,587) and a record total value of £1,859 million (29 June 2014: £1,584 million)

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Persistent decline to give way to recovery in 2027

Glenigan’s Autumn 2026 Construction Forecast maintains that sector growth will revive in 2027, despite a challenging year of market stagnation Following a sluggish end to 2026, construction is set to rebound from 2027 onwards as public sector building increases Significant value gains expected for health, education, civils, offices and data centre projects Private and social…
Read More →
Estate Agent Talk

The Plumbing and Electrical Problems That Quietly Kill Sales and Lettings

We’ve all had one of these. The offer’s agreed. Everyone’s happy. The memorandum of sale has gone out, and you’re already mentally banking the fee. Then the buyer’s survey comes back. “Electrics appear dated. Recommend inspection by a qualified electrician.” And just like that, the mood changes. The buyer starts asking about a reduction. The…
Read More →
Breaking News

Rental price and average salary tracker – October 2026

Rental prices rise across most regions as affordability pressures persist Average monthly rents increased in eight of the 11 regions between September and October, with Wales recording the largest rise at 31.1%, followed by the North East at 29.8% and the South West at 7.5%. Scotland, London and the North West were the only regions…
Read More →
Letting Agent Talk

Portfolio landlords have outgrown traditional property management

By Adam Hills, Client Services Director, LRG Living Markets The residential lettings industry still manages many large portfolios as though they’re simply collections of individual tenancies. While that works on small portfolios, but it doesn’t work when landlords own 50, 100 or 200 properties. At that point, the challenge is no longer property management alone…
Read More →
Breaking News

Real-life value of the most famous Christmas film homes

The real-life value of the most famous Christmas film homes, from budget classics to multimillion-pound mansions New research has gathered and analysed the estimated valuations of real homes featured in popular Christmas films, ranking them by cost. The priciest homes are featured in The Holiday, Trading Places, and Home Alone, with Amanda’s home from The…
Read More →
Estate Agent Talk

77% of buyers refuse to buy a flood risk property

Despite 4.7 million English homes facing flood risk New research from Lyons Bowe has revealed that 77% of homebuyers would not consider purchasing a property in a flood risk area, despite more than 4.7 million homes across England currently being deemed at risk of flooding. The findings come as the Government launches a new flood taskforce amid…
Read More →