海角社区app

海角社区app

Sat September 21 2024

Related Information

Taylor Wimpey posts £130m first-half profit

1 Aug 12 Taylor Wimpey has maintained its recovery after posting a £130m pre-tax profit for the first half of 2012, an increase of more than 1,000 per cent on the same period a year ago.

Revenue was up 11% to 拢906.2m.

The profit would have been higher but for 拢22.7m of exceptional items, which were finance costs relating to its net debt.

Net debt stands at 拢135.2m, up slightly on the 拢116.9m announced in the full year results for 2011.

Taylor Wimpey slashed its net debt from 拢848.8m a year ago with the sale of its North American business for 拢731.9m.

The house builder reported growth in completions to 5,083 (H1 2011: 4,707), and an increased average selling price of 拢176,000 (H1 2011: 拢168,000).

The value of its private order book has grown 18% to 拢688m.

It has 6,890 new plots approved for purchase (H1 2011: 5,289).

Pete Redfern, chief executive, said: "I am very pleased to report another period of strong financial and operating performance. We've seen improvements across the business driven by our continued focus on prioritising margin growth and return on capital.

鈥淎lthough wider economic conditions remain uncertain, we have been reassured by the continued stability in trading conditions and the strength of our order book.

鈥淟ooking ahead, we expect to deliver further improvements in performance across all key metrics.鈥

Got a story? Email news@theconstructionindex.co.uk

MPU
MPU

Click here to view latest construction news »