Taylor Wimpey reveals impressive figures for 2015!

Home » Taylor Wimpey reveals impressive figures for 2015!
26th February 2016

In 2015, total home completions from the developer increased by 7% to 13,341, including the group’s share of joint venture completions (2014: 12,454). During 2015, the company delivered 2,509 affordable homes (2014: 2,178), equating to 19% of total completions (2014: 17%). Average selling prices on private completions increased by 9% to £254,000 (2014: £234,000). The overall average selling price increased by 8% to £230k (2014: £213k).

The group ended the year with a record year end order book, which increased in value by 27% to £1.8bn as at 31 December 2015 (31 December 2014: £1.4bn), excluding joint ventures. This order book represents 7,484 homes (31 December 2014: 6,601 homes).

Pete Redfern, Chief Executive of Taylor Wimpey, 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.”

In 2015, the first year of the group’s medium term targets, it will report an improved operating profit margin of over 20% (2014: 17.9%) and a return on net operating assets of more than 25% (2014: 22.5%). The company ended the year with net cash of £225m (31 December 2014: £112.8m net cash), due to the strength in underlying trading and after the payment of £308m of dividends to shareholders in 2015 (2014: £73m). During 2015, the group has also made significant progress towards its medium term target to convert an average of 65% of operating profit into operating cash flow for 2015 – 2017.

The group’ full year results will be announced on 1 March 2016.

http://www.propertyweek.com/finance/taylor-wimpey-updates-on-strong-2015/5078583.article

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