Latest housebuilder to post strong financial results
Taylor Wimpey has become the latest housebuilder to post strong financial results, more than doubling pre-tax profit in the year ended 31 December 2012.
Pre-tax profit increased to 拢185.3m from 拢89.9m the previous year, while revenue also increased 11.7% to 拢2bn from 拢1.8bn.
Taylor Wimpey鈥檚 operating profit margin increased to 11.5% from 9% and it completed more homes at a higher average selling price 鈥� 10,886 homes at an average 拢181,000, up from 10,180 homes at 拢171,000.
The firm鈥檚 total order book value increased by 14% to 拢948m as of 31 December 2012, up from 拢835m the previous year.
Taylor Wimpey鈥檚 strong results follow similarly good performances by this week.
Pete Redfern, chief executive, said: 鈥淒uring 2012, we鈥檝e continued our consistent approach and focus on margin and returns, delivering a significant increase in profits.
鈥淭hese results show the benefit of our short term land and strategic land asset choices, along with our sharpened focus on capital efficiency.鈥�
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