Taylor Wimpey pre-tax profits up 33%

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

Planning disputes on new build land
Breaking News

Government’s last-minute Planning Bill amendments will tackle blockers and boost growth

The Government has announced several major amendments to the Planning and Infrastructure Bill, which further streamline the planning process. They include reducing the length of consultation, stripping uncooperative councils of the right to make certain decisions, and paring back the impact and ability to raise legal disputes. Richard Beresford, Chief Executive of the National Federation…
Read More
Breaking News

Next budget a “pivotal moment for the property market”

The UK government is due to unveil its next budgetary statement in November, with many rumours circulating on how it’ll affect the property market. While many rumours are circulating among thought leaders and economists, Mitchell Martyn, property expert from Pure Property Finance, a property finance specialist based in the UK, says that this next budget…
Read More
Breaking News

28% Increase in Brits Moving to Australia

The number of people moving to Australia in the summer of 2025 increased by 28% year on year, making it the busiest quarter for Australia-bound movers in recent years. According to data from international movers surveyed through Compare My Move, September 2025 recorded the highest share of moves to Australia for the year, capping off an…
Read More
new build homes colchester essex
Breaking News

New-build transaction volumes fall by 62%

New-build sales volumes fall by 62%, but market improvements are driving accessibility for homebuyers The latest insight from Yopa has found that, whilst average monthly new-build sales volumes are down 62% so far in 2025, new-build homebuyers are benefitting from improvements to market affordability, with mortgage lenders currently introducing a range of new initiatives and…
Read More
Estate Agent Talk

Brits could buy a haunted property without knowing

Buyers in England and Wales could unknowingly purchase a property with a haunted reputation, as sellers aren’t required to disclose it. Homebuyers who are unaware are at risk, as this could lead to privacy concerns, nuisance from visitors and impact property value. Louise Ainley, a qualified conveyancer at licensed conveyancer course provider Access Law Online,…
Read More
Estate Agent Talk

3 ways a new-build could boost your purchasing position

The latest internal data release from award-winning mortgage adviser, Alexander Hall, has revealed that it’s not just younger, first-time buyers taking advantage of new-build benefits to buy one-bed flats. Multiple homebuyer demographics are purchasing at all levels of the property ladder, buoyed by improvements to the mortgage market landscape, which have seen lenders offer greater…
Read More