UK-based homebuilder Taylor Wimpey Plc (TW.L) on Monday said it expects full-year 2012 profits at the upper end of its expectations with operating profit up over 40 percent, benefited by the successful implementation of its strategy.
In its trading statement for the year ended December 31, the company noted that its operating margin will be ahead of last year’s 8.8 percent, and the 11.1 percent reported in the first half of 2012.
The company will announce its full- year results on March 1.
Chief Executive Pete Redfern said, “2012 was another year of significant progress for Taylor Wimpey …. We are delivering on the strategy that we set out in 2011, including a return to UK double digit operating margin ahead of schedule. As we look forward to 2013, we are confident that we will continue to deliver against our key objectives and target further improvement.” In the UK, the company said its underlying market conditions have remained stable since November. The continued wider macro economic uncertainty has contributed to the challenging market conditions in Spain. Looking ahead, the company stated that two weeks into 2013, consumer sentiment towards the housing market is more positive than it has seen in recent times. The company said it maintains a positive, although cautious view in the short term.
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by RTT Staff Writer
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