Furthermore, the company ended the year with £1.2bn of cash, nearly £400m higher than the pre-pandemic figures.
This is despite the housebuilder paying £350m of dividends in 2020, and spending a further £325m on land.
In relation to these figures, Oliver Creasey, head of property research at Quilter Cheviot, said: “We are particularly impressed that the company was able to generate these returns in the midst of the COVID-19 pandemic.
“Since July 2020, build rates were maintained at pre-COVID levels, even throughout the November lockdown.
“Construction across the sector was impacted less than first feared by the pandemic, but we believe that Persimmon fared even better than peers – with completed sales down only 15% year-on-year.
Taylor Wimpey outlined that its total number of house completions fell by 39% to 9,799, between 2019 and 2020.
It attributed this to the site shutdowns in the second quarter of the year due to the pandemic.
As a result, the housebuilder reported 2020 revenue of £2.79bn, down from £4.31bn in 2019.
In addition, the company’s voluntary ground rent review assistance scheme is nearing its conclusion, having reached agreements with 99% of freeholders, with the remaining 1% in negotiations.
It has also revealed an additional £125m fund for fire safety work on properties, which have issues relating to cladding.
Pete Redfern, chief executive of Taylor Wimpey, said: “2020 was a very challenging year, during which our priority has continued to be the health and safety of our colleagues, customers, suppliers and subcontractors.