Taylor Wimpey boosted by trading update

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Taylor Wimpey boosted by trading update
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Housebuilder Taylor Wimpey (LON:TW.) has said that it met expectations for overall performance in 2018 with the market remaining stable throughout the year despite political and macroeconomic uncertainties. Total home completions were 3% higher than during 2017 and the company is moving into the next year with an order book valued at £1.78 billion.

CEO Pete Redfern said: “I am pleased to report another year of strong performance, in line with our expectations. Despite wider macroeconomic uncertainty, the housing market remained stable during 2018 and we had a good trading performance. We are continuing to deliver against our strategy and ended the year in a positive position, underpinned by our strong order book and balance sheet.

“As we enter 2019, we maintain our guidance for stable volumes although are mindful of market sensitivity. We are confident that our focused strategy of managing the business through the cycle and driving further operational improvements will enable us to continue to deliver a high-quality product and service to our customers, long term value for shareholders and growth into 2020.

The price of shares in Taylor Wimpey rose by 6.09% to 148.95p (as of 14:30 GMT).

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