‘Healthy’ order book for Taylor Wimpey
Housebuilder Taylor Wimpey looks to be moving back on track, in part thanks to government support measures, analysts have said, as the firm revealed housing demand had been “resilient”.
The group, which has a sizeable presence in Scotland, told investors they could expect an interim dividend in November, on top of the payout they will get next month.
Speaking ahead of the company’s annual shareholder meeting, being held virtually, chief executive Pete Redfern said: “The UK housing market continues to be resilient and we are trading in line with our full-year expectations. With strong market fundamentals, customer demand for our highquality homes remains robust and we are achieving a strong sales rate and building a healthy forward order book.”
He added: “We are a cash generative business with a strong balance sheet and remain focused on our strategic priorities to drive operating profit margin while creating long term value for our customers and shareholders.”
The company has also been snapping up land, which has at times proven cheaper over the past year. A year ago Taylor Wimpey had 78,000 plots in its short-term landbank. It now owns around 82,000.
Adam Vettese, an analyst at investment platform etoro, said: “The housing market has bounced back after closing for essentially the entire second quarter last year. Government measures such as the mortgage guarantee scheme and extending the stamp duty holiday have provided a supportive environment for builders at a time when they most needed it.”