Taylor Wimpey’s strong 2012

UK-based home builder Taylor Wimpey reported solid results for 2012, with revenues up 12% year-on-year to £2 billion (€2.3 billion) and net profit climbing 127% to £149 million (€172 million).

The contractor’s UK profit margin increased to 11.5% from 9% in 2011. It said the results were achieved against the backdrop of a stable UK housing market.

Chief executive Pete Redfern said, “During 2012, we’ve continued our consistent approach and focus on margin and returns, delivering a significant increase in profits. These results show the benefit of our short-term land and strategic land asset choices, along with our sharpened focus on capital efficiency.”