Taylor Wimpey deliver a record first half performance 7:16 am
Taylor Wimpey plc (LON:TW) has announced its half year results for the period ended 4 July 2021.
Financial highlights:
· Group completions of 7,303 homes (H1 2020: 2,771) excluding joint ventures, a record first half performance, partly due to the delayed Q4 2020 completions
· Strong margin performance with first half Group operating profit margin of 19.3% (H1 2020: (2.1)%; H1 2019: 18.0%), as a result of our strong cost and price discipline throughout the business and benefiting from increased completions
· Net cash
‡ of £906.5 million, due to timing of land payments
· Acted decisively in March 2021, to announce a new cladding fire safety provision of £125 million to make apartment buildings safe and mortgageable up to EWS1 (External Wall Fire Review) guidance
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