Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Taylor Wimpey PLC (TW.)

  Print      Mail a friend       Annual reports

Monday 11 January, 2016

Taylor Wimpey PLC

Trading statement for the year ended 31 Dec 2015

RNS Number : 3709L
Taylor Wimpey PLC
11 January 2016

11 January 2016


Taylor Wimpey plc


Trading statement for the year ended 31 December 2015


Taylor Wimpey is issuing the following update on trading ahead of its full year results for the year ended 31 December 2015, which will be announced on 1 March 2016.




Pete Redfern, Chief Executive, commented:


"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."


UK current trading


Against the backdrop of a positive housing market in 2015, which continued to strengthen into the second half of the year, we have driven an improved financial performance and delivered a healthy increase in completions.


In 2015, total home completions increased by 7% to 13,341, including our share of joint venture completions (2014: 12,454). During 2015, we delivered 2,509 affordable homes (2014: 2,178), equating to 19% of total completions (2014: 17%). Our net private reservation rate for 2015 was 0.73 homes per outlet per week (2014: 0.64). Cancellation rates remained low at 12% (2014: 14%). Average selling prices on private completions increased by 9% to £254k (2014: £234k), benefiting from our focus on better quality locations. Our overall average selling price increased by 8% to £230k (2014: £213k).


We ended the year with a record year end order book, which increased in value by 27% to £1,779 million as at 31 December 2015 (31 December 2014: £1,397 million), excluding joint ventures. This order book represents 7,484 homes (31 December 2014: 6,601 homes). We enter 2016 with 297 outlets (31 December 2014: 305) located in high-quality locations where people want to live.


Land portfolio and planning


The short term land market remained disciplined throughout 2015, and we were able to invest in value creating opportunities at margins similar to those achieved in 2014. As at the end of December 2015, our short term landbank stood at around 76k plots, having successfully converted over 8k plots from the strategic pipeline into the short term landbank.


Spain current trading


We have seen a meaningful improvement in the Spanish market in 2015. We completed 251 homes in 2015 (2014: 164) at an average selling price of €315k (2014: €250k). The total order book as at 31 December 2015 stood at 270 homes (31 December 2014: 233 homes). The Spanish business will deliver an improved operating profit* for 2015 (2014: £4.2 million operating profit*), reflecting the significant contribution of newly acquired sites.


Group financial position


In 2015, the first year of our medium term targets, the Group will report an improved operating profit* margin of over 20% (2014: 17.9%) and a return on net operating assets** of over 25% (2014: 22.5%). We ended the year with net cash of c.£225 million (31 December 2014: £112.8 million net cash), due to the strength in underlying trading and after the payment of £308 million of dividends to shareholders in 2015 (2014: £73 million). During 2015, we have also made significant progress towards our medium term target to convert an average of 65% of operating profit* into operating cash flow for 2015 - 2017.




Housing remains high on the political agenda, with a recognition of the structural demand and supply imbalance that exists in the UK. We welcome the Government's commitment to housing delivery which was demonstrated by the Autumn Statement, which placed housing at the centre of policy agenda. We look forward to evaluating the full detail when available around the Starter Homes initiative, in order to assess the investment required in skills and resources to deliver this scheme. We remain committed to delivering high-quality homes and sustainable shareholder returns across the housing cycle, whilst continuing to invest in improvements to our customer service processes. 


We start the year in an excellent position with a strong order book and a clear strategy which remains focused on long term delivery and sustainability. We remain confident that we will continue to demonstrate further progress throughout 2016, and against our medium term targets, delivering increased returns for our shareholders and embedding improvements to enhance our customers' homebuying experience.


* Operating profit is defined as profit on ordinary activities before net finance costs, exceptional items and tax, after share of results of joint ventures.

** Return on net operating assets is defined as 12 month rolling operating profit divided by the average of the opening and closing net operating assets, which is defined as net assets less net cash less deferred tax balances, less any accrued dividends. 




For further information please contact:


Taylor Wimpey plc                                                    Tel: +44 (0) 7826 874461

Pete Redfern, Chief Executive

Ryan Mangold, Group Finance Director

Debbie Sempie, Investor Relations


Finsbury                                                                     Tel: +44 (0) 20 7251 3801

Faeth Birch

Anjali Unnikrishnan


Notes to editors:


Taylor Wimpey plc is a UK-focused residential developer which also has operations in Spain.  Our vision is to become the UK's leading residential developer for creating value and delivering quality.


For further information, please visit the Group's website: 


Follow us on Twitter via @TaylorWimpeyplc

This information is provided by RNS
The company news service from the London Stock Exchange

a d v e r t i s e m e n t