Six-year high from Taylor Wimpey

UK housebuilder Taylor Wimpey has said that it has been building more homes than at any point in the past six years.

In a trading update ahead of its full-year results for the year ended 31 December, 2015 – which will be announced on 1 March – CEO 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%.

“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 company said that against the backdrop of a positive housing market in 2015, which continued to strengthen into the second half of the year, it had driven an improved financial performance and delivered a healthy increase in completions.

It reported that in 2015, total home completions increased by 7% to 13,341, including its share of joint-venture completions. In 2014, the total was 12,454.

Average selling prices on private completions increased by 9% to £254,000 (€339,114), up from £234,000 (€312,391) in 2014, which it said benefited from a focus on better quality locations.

Taylor Wimpey said that it ended 2015 with a record year-end order book, which increased in value by 27% to £1.78 billion (€2.38 billion), up from £1.4 billion (€1.87 billion) at 31 December, 2014, excluding joint ventures.