Taylor Wimpey unveils record 20 per cent profit margin
Housebuilder Taylor Wimpey has reported that its operating profit margin reached a new high in 2015, topping 20 per cent, with a rise of 7 per cent in sales.
The firm said it is building more homes than at any other point in the last six years, building 13,341 homes last year, 19 per cent of which were classified as affordable homes.
The average price for a Taylor Wimpey house increased to £254,000 from £234,000 in 2014, a rise of 9 per cent.
The company also said its profit margin was at a record 20 per cent.
There were improvements in the Spanish market, where Taylor Wimpey completed 251 homes in 2015 with an average sales price of £236,000.
In a trading statement ahead of its full year results, the firm said it was confident of achieving increased returns to its shareholders.
Chief executive Pete Redfern said: “We have delivered a strong trading performance in 2015, in a positive housing market, building more homes than at any point in the last six years and delivering a record operating profit margin of over 20 per cent. We are confident that the principles we are operating to will deliver long term sustainable value across the housing cycle, and we remain focused on working with communities and our customers, suppliers and employees to drive continual improvement in the quality and consistency of our operational business.”
The housebuilder will announce its full year results on 1st March 2016.