Taylor Wimpey share price: what to expect from its Q1 results
Despite a myriad of headwinds, the British homebuilder secured a strong 2018 performance with investors hoping for more of the same this year.
When is Taylor Wimpey’s results date?
Taylor Wimpey will hold its annual general meeting (AGM) and release its Q1 trading update on April 25.
Taylor Wimpey results preview: what does the City expect?
Taylor Wimpey recorded yet another strong year in 2018, with the homebuilder making good progress against its strategic goals and delivering results in line with its expectations.
Operating profit in 2018 came in at £880.2 million, representing a 4.3% increase over the previous year, with its performance driven by improvements in both its UK and the Spanish businesses.
The UK homebuilder managed to achieve a strong sales rate and record revenues, a feat made even more impressive when considering the sector at large as has had to contend with ongoing macroeconomic and political uncertainty.
The British homebuilder has made a positive start to 2019 and as it enters the spring selling season its customer confidence remains robust, with the company recording a net private sales rate for the year to date (week ending 24 February 2019) at 0.99, up from 0.82 in the same period a year prior.
‘We enter the year with a strong order book and a clear strategy in place to deliver long term value for shareholders,’ Taylor Wimpey CEO Pete Redfem said.
In 2019, the company plans to focus on making supply chain improvements, moving ahead with a customer-led strategy and continuing to remain conscious of political and economic risks, particularly around Brexit with the UK delaying its departure from the EU until October 31.
New-build complaints increase
Earlier this year, the British homebuilder, in its full-year 2018 results, was forced to acknowledge concerns about mortar durability after hundreds of new-build homeowners in various parts of the UK complained.
In fact, Taylor Wimpey issued an apology to Peebles homeowners after several families living on the Kingsmeadows development spoke of defects to their houses caused by crumbling mortar.
‘We sincerely apologise to the affected homeowners for the issues that they have experienced within some homes at our Kingsmeadow development in Peebles,’ a Taylor Wimpey spokesperson told the Peeblesshire News.
‘While a significant number of houses on the development are unaffected by mortar issues, a robust technical solution to fix the durability of the mortar has been identified, which is supported by our appointed structural engineer, an independent review by the Scottish Borders Council, and the National House Building Council.
‘We have a clear plan in place to remediate affected homes and works have already begun on the development.’
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