Taylor Wimpey up as it sets restart date

1 mins. to read
Taylor Wimpey up as it sets restart date
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FTSE 100 housebuilder Taylor Wimpey (LON:TW.) watched its share price increase by 10.88% to 149.80p (as of 13:45 BST) after it said that the value of the order book had continued to increase during lockdown and re-mobilisation was scheduled to begin on 4th May. Management said that the balance sheet and cash position were still strong, but sales offices and show homes would remain closed for the immediate future.

CEO Pete Redfern commented: “Our first priority is always the health and safety of our customers, employees, subcontractors and suppliers. We took an early decision at the end of March to close our sites while we assessed in detail how to build homes without compromising on health and safety or quality. We are now confident that we have clear plans and processes in place so we can safely start back on site in a phased way beginning on 4 May.

In the period while our sites have been closed, trading has inevitably been impacted. However, we are still seeing continued demand for our homes and our sales teams have been selling homes remotely, and digitally, week to week. Cancellations represent less than 1% of our current order book. We have a strong balance sheet and have managed the business conservatively and are as well positioned as we can be in the very difficult circumstances“.

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