In an upbeat trading statement, the board said that the full year group operating margin will be ahead of the 11% reported for the first half of 2012.
Chief executive Pete Redfern described 2012 as “another year of significant progress for Taylor Wimpey”. He said: “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."
Average selling prices on private completions increased by 6% to £197k. This was achieved in a flat market by targeting more expensive locations. Home completions increased by 7% to 10,886.
Hopes are already high for 2103. Order book at the start of 2013 is up 14% in value to £948m, representing 5,966 homes (31 December 2011: 5,379 homes), and consumer sentiment is more positive than it has been for a long time. “Clearly it is too early to judge the market for the year, but we maintain a positive, although cautious view in the short term,” the board said.
Taylor Wimpey's 2012 results will be announced on 1 March 2013.
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