Taylor Wimpey has revealed that its pre-tax profits rose 106% to £185.2 million in 2012.
Over 2012 Taylor Wimpey has revealed that completions rose by 7% to 10,886 with 8842 of them being private completions. This is an increase over 2011's 8075 private completions.
Not only did completions rise but so did their private reservation rate, which rose from 0.54 homes per outlet per week in 2011 to 0.58.
The end of 2012 was a high moment for Taylor Wimpey as it also saw an improved sales rate and visitor trends with the south and Midlands showing the biggest increase in NewBuy reservations. Taylor Wimpey has also noted that their private average selling price increased from £185,000 to £197,000; an increase of over 6%. This was apparently because of the “enhanced quality” of the company’s chosen locations.
Taylor Wimpey’s CEO Pete Redfern said:
“During 2012, we've continued our consistent approach and focus on margin and returns, delivering a significant increase in profits. These results show the benefit of our short term land and strategic land asset choices.”
