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Trading statements

Taylor Wimpey makes good start to 2017

27 April 2017 07:27

Taylor Wimpey said it has made a good start to 2017, positioning the group well in a market with positive sentiment that it does not see being disrupted by the UK general election in June.

"The UK housing market continues to be underpinned by good mortgage availability and healthy employment prospects," the company said.

"We anticipate build cost inflation of 3-4% in 2017, as previously indicated."

The company added that throughout 2017 it expected to show further progress against all its medium-term targets, including the announced £450m total dividend payment to shareholders in 2017.

"The leasehold provision that we have taken will not impact our target to return total dividends of £1.3bn over the period 2016-18, or our ongoing land investment programme," said Taylor Wimpey.

"We expect to maintain a strong balance sheet and anticipate ending the year with a net cash position broadly similar to year end 2016."

CEO Pete Redfern said Taylor Wimpey had made a good start to 2017.

"We are optimistic that in 2017, assuming no major policy changes, the upcoming General Election will not disrupt this positive market sentiment," he said.

"Our total order book currently stands at 9219 homes (2016 week 16: 8811 homes), excluding legal completions to date.

"The total order book value has increased by 2% to approximately £2.210bn from the equivalent point last year (2016 week 16: approximately £2.168bn, and by 31% from the year end."

Story provided by StockMarketWire.com

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