LONDON (dpa-AFX) - Taylor Wimpey (TW.L), on Thursday, the company reported that its total group completions, including joint ventures, amounted to 10,848 units in fiscal 2023, thereby indicating a decrease in comparison to the previous year's figure of 14,154.
In the UK, home completions, including joint ventures, were 10,438, a decline from the prior year's 13,773, which comprised 2,388 affordable homes, equivalent to 23% of the total completions, up from the previous year's 21%.
For the year 2023, the company's net private reservation rate stood at 0.62 homes per outlet per week, down from the previous year's 0.68. Excluding the impact of bulk deals, the net private sales rate was 0.54, a decrease from 0.65 reported last year. The cancellation rate for the year was 18%, the same as the previous year.
The average selling price for private completions in the UK rose by 5.1% to £370k, from the previous year's £352k. The overall average selling price increased by 3.5% to £324k, up from £313k last year. The company ended the year with a lower order book valued at £1,772 million, exclusive of joint ventures, comprising 6,999 homes, with 2,565 being private and 4,434 being affordable.
In the UK, Taylor Wimpey traded from an average of 238 outlets in 2023, up from the previous year's 232, and ended the year with a total of 237 outlets, versus 259 in the previous year.
The company anticipates that the full-year Group operating profit will be at the top end of its guidance range of £440 million - £470 million.
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