REG - Taylor Wimpey PLC - Investor and analyst update

Taylor WimpeyAnnouncement

25/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220525:nRSY6640Ma&default-theme=true

RNS Number : 6640M  Taylor Wimpey PLC  25 May 2022

 

 

25 May 2022

Taylor Wimpey plc

Investor and analyst update

 

Taylor Wimpey will be hosting an event for institutional investors and
analysts in London today with CEO Jennie Daly, Group Finance Director Chris
Carney, and further members of the senior management team.

Our presentation will set out the Group's approach to building a stronger and
more resilient business which will deliver superior returns for our
shareholders. It will provide an overview of our business priorities and
Taylor Wimpey's potential to deliver enhanced value through our sector leading
landbank and sharper operational focus.

The presentation will provide detail on the Board's strategic focus for Taylor
Wimpey which comprises four key cornerstones of value for the business going
forward:

1.  Land: optimising value from our owned and controlled landbank and our
sector leading strategic land pipeline

2.  Operational excellence: building greater discipline through our business
model to improve efficiency, protect value and ensure Taylor Wimpey is fit for
the future

3.  Sustainability: continuing to evolve and embed ESG throughout the
business for the benefit of all our stakeholders

4.    Capital allocation: reinforcing our clear and disciplined framework
that balances investment for future value creation with sustainable annual
dividends and excess cash returns for investors as appropriate through the
cycle

As part of our commitment to delivering a stronger and more resilient
business, we are today confirming our financial targets comprising an:

-     Operating profit* margin of 21-22%; and

-     Return on net operating assets** of 30%

Our dividend and capital allocation policy remains unchanged.

Trading remains in line with trends recently outlined at our Annual General
Meeting on 26 April 2022. Guidance for operating margin and outlet-led volume
growth is reconfirmed today.

 

* Operating profit is defined as profit on ordinary activities before net
finance costs, exceptional items and tax, after share of results of joint
ventures.

** Return on net operating assets (RONOA) is defined as rolling 12-month
operating profit divided by the average of the opening and closing net
operating assets, which is defined as net assets less net cash, excluding net
taxation balances and accrued dividends.

 

-Ends-

For further information please contact:

Taylor Wimpey plc
 
Tel: +44 (0) 1494 885656

Jennie Daly, CEO

Chris Carney, Group Finance Director

Debbie Archibald, Investor Relations

Andrew McGeary, Investor Relations

Finsbury
 
TaylorWimpey-LON@fgh.com (mailto:TaylorWimpey-LON@fgh.com)

Faeth Birch

Anjali Unnikrishnan

James Gray

 

Notes to editors:

Taylor Wimpey plc is a customer-focused homebuilder operating at a local level
from 23 regional businesses across the UK. We also have operations in Spain.
Our purpose is to build great homes and create thriving communities.

For further information please visit the Group's website:
www.taylorwimpey.co.uk/corporate (https://www.taylorwimpey.co.uk/corporate)

Follow us on Twitter @TaylorWimpeyplc

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDQZLFLLELBBBK