Housebuilder performs strongly over six months to July 1

Pete Redfern

Pre-tax profit at housebuilder Taylor Wimpey has jumped 170% to 拢78m for the half year to July 1 2012, compared to the same period the previous year.

Operating margins rose to 11.1% from 8.2%, while revenue also grew to 拢906.2m from 拢817.8m.

The company completed 5,083 homes in the UK during the six months with an average selling price of 拢176,000.

Pete Redfern, chief executive, said: 鈥淲e鈥檝e 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�

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