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TW. - Taylor Wimpey News Story

180.75p 2.3  1.3%

Last Trade - 07/05/21

Consumer Cyclicals
Large Cap
Market Cap £6.59bn
Enterprise Value £5.90bn
Revenue £2.79bn
Position in Universe 153rd / 1821

UPDATE 1-Taylor Wimpey sees sustained housing demand as budget measures kick in

Thu 22nd April, 2021 7:33am
(Adds CEO comment, background)
    April 22 (Reuters) - Britain's third-largest homebuilder
Taylor Wimpey  TW.L  on Thursday forecast sustained demand as
the sector benefits from a lower interest rate environment and
additional budgetary support measures.
    Last month, British finance minister Rishi Sunak extended
tax breaks for home buyers until October and unveiled a mortgage
guarantee scheme in the budget, moves that further bolstered the
housing sector after Prime Minister Boris Johnson unveiled a
phased exit plan from COVID-19 lockdowns.  urn:newsml:reuters.com:*:nL5N2L14OG
    "The UK housing market continues to be resilient and we are
trading in line with our full-year expectations," said Chief
Executive Officer Pete Redfern.
    Mortgage lender Halifax said British house price growth
accelerated in March after the tax break extension, posting the
biggest increase in six months and compared with a flat reading
in February.  urn:newsml:reuters.com:*:nAPN04GK4U
    The group said its order book stood at 2.81 billion pounds 
($3.91 billion), as of April 18, compared with 2.67 billion
pounds a year earlier.
    The FTSE 100 firm, which was aggressively buying land during
the pandemic, said net private sales rate for the year to April
18 was strong at 1.00, compared with 0.90 a year earlier.
    Taylor Wimpey said its focus remained on delivering
operating profit margin target of 21%-22% in the medium term,
adding that it remained on track to deliver against annual
financials outlook.
    The company, however, said it was not planning to make a
capital return in 2021.   

($1 = 0.7178 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Subhranshu Sahu)
 ((abyjose.koilparambil@thomsonreuters.com; +91 80 67496061;
Reuters Messaging: Reuters Messaging:
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