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Taylor Wimpey Fundamentals (TW.)

StockMarketWire.com

House builder Taylor Wimpey hiked its FY pretax profit to �732.9m, from �603.2m, in what it said was an excellent performance against a backdrop of political and economic uncertainty.

Revenue was �3.7bn, from �3.1bn.

The company said it had made a very good start to 2017 and was encouraged by robust trading and levels of demand. The UK housing market fundamentals remain good with strong customer confidence in core geographies.

"The market is underpinned by a competitive mortgage market and low interest rates. Customer interest remains high, with website visits solid and customers continuing to register interest in forthcoming developments and progress their home purchase plans," said Taylor Wimpey.

"Whilst the wider London market remains robust, prime central London is softer, as previously highlighted, however, house prices are stable, and there are good levels of underlying demand."

The net private sales rate for the year to date (w/e 19 February 2017) has increased to a very strong 0.91 (2016 equivalent period: 0.77).

Taylor Wimpey said it was continuing to focus on building a strong order book for the future. As at Feb. 19, it was about 49% forward sold for private completions for 2017, with a total order book value of �1.98bn, excluding joint ventures.

"This order book represents 8,573 homes (2016 equivalent period: 8,409). 58% of Central London private completions for 2017 are forward sold, as at 19 February 2017 (2016 equivalent period: 76%)," it said, adding it welcomed the measures set out in the Housing White Paper.

"We expect underlying build cost increases during 2017 to be at a similar level to 2016, at around 3-4%."

Taylor Wimpey said the early signs of stability and resilience of the market following the EU referendum, which were encouraging, continued and it believed the risk of material impact from this in the short term has significantly reduced.

"In line with our strategy, we will continue to closely monitor market risks, particularly around long term mortgage cost. However we believe that a cautiously regulated market and low interest rate environment is likely to prolong the period of stability that we are seeing in the UK housing market."





Story provided by StockMarketWire.com

Manuel,

Interesting article recalling what you posted some weeks ago.

"Builders turn to bolt-together homes in Brexit Britain"

http://uk.reuters.com/article/uk-britain-eu-construction-insight-idUKKBN16G1DC?feedType=nl&feedName=ukdailyinvestor&utm_source=Sailthru&utm_medium=email&utm_campaign=UK%20Technology%20Roundup%202017-03-09&utm_term=UK%20Technology%20Roundup



-=-=

I was thinking of reducing my hold of TW..

forgotten who that chap was who kept poo-pooing me about prefabs and housing from shipping containers etc
perhaps he's keeping his head below the parapet!

What accounts for the SP drop over last few days.

Is it :

1) x-div (9.2p Special Div)?
2) slow down in house prices?
3) election jitters?
4) or am I missing something?

By StockMarketWire | Wed, 31st May 2017 - 09:20
Deutsche Bank today reaffirms its buy investment rating on Taylor Wimpey PLC (LON:TW.) and raised its price target to 243p (from 241p).

SP drop due to a combination of the first 3, as for No 4 you are very short-sighted because you can't see past Corbyn.

I'd say principally 1 and 2. Often prices are driven up prior to a good divi and then tails off in the days/weeks after.

As my holding was bought at 26p many moons ago I'm not massively worried. :)

Thanks,

I have a lot too many of them.

-=--=-=

George,

May not be able to see past Corbyn, but can see through Mother Theresa.

Election jitters. Looking at my portfolio I have a variety of stuff where it's falling on low volume for no particular reason.

Low volume indicates people cutting risk and other sitting on sidelines waiting.

Construction figures good late last week
Manufacturing figures good today
Exchange rate going in correct direction

It's all about de-risking before the election I guess

My monitor has tlw followed by tw.

They seem to be falling together !

Is that your monitor or TLW.

Uggh,

I am holding. Hope I don't regret doing so.

Actually tempted to buy a few more. But. But. But.

We know it for some time now ......

UK construction growth drops to 11-month low -PMI

LONDON, Aug 2 (Reuters) - Growth in Britain's construction industry tumbled to an 11-month low in July, as a lacklustre outlook for the economy and heightened political uncertainty deterred new orders, a survey showed on Wednesday.

The Markit/CIPS UK Construction Purchasing Managers' Index PMI) fell to 51.9 from 54.8 in June, below all forecasts in a Reuters poll of economists that had pointed to a reading of 54.5.

The survey is another mixed signal for Bank of England policymakers meeting this week to set interest rates. A sister survey on Tuesday had shown British manufacturing growth improved last month thanks to an upturn in exports.

But Wednesday's PMI for construction, which accounts for around 6 percent of British economic output, showed a sector struggling to maintain momentum.

"The combination of weaker order books and sharply rising construction costs provides a concern that an extended soft patch for the construction sector may be on the horizon," said Tim Moore, senior economist at survey compiler IHS Markit.

Wednesday's PMI showed new business volumes declined for the first time since August 2016, hurt by a slowdown in the commercial construction sector.

Last week the Royal Institution of Chartered Surveyors said demand to rent British commercial property had fallen to a five-year low.

Growth in the housebuilding sector also cooled, reflecting other signs of a slowdown in the housing market, according to the PMI. On Monday, the Bank of England said mortgage approvals fell to a nine-month low in June.

The waning growth in activity took its toll on construction firms' confidence about the future, which fell to its lowest level in a year, IHS Markit said.

The Federation of Master Builders said on Monday that the fall in the sterling exchange rate was causing prices of materials to soar, squeezing margins for a third of small builders and forcing nearly a quarter to raise prices.

More important for BoE officials will be Thursday's PMI for the services industry, which accounts for about 80 percent of British economic output.

- Detailed PMI data are only available under licence from Markit and customers need to apply to Markit for a licence.

It's no surprise that the house-building sector is cooling mentor, when prospective first-time buyers are excluded from the market due to pricing pressures and the need for a sizable deposit.

Not to mention the low wages and conditions.. buy a house in this Country at the moment?.. you must be joking.

for all that, there remains huge pressure to build houses everywhere, even gobbling up more and more greenbelt

under current legislation, any new development has to include a specified proportion of "starter homes" whatever that may mean ...... certainly one of the smart developments in RBK&C were less than thrilled to find a bunch of grenfell tower "homeless" taking up residence in part of their block (hard cheese!)

under current legislation, any new development has to include a specified proportion of "starter homes" whatever that may mean

It means that "starter homes" usually means ending up nothing like affordable homes in practise.

oh do stop being a bitter and twisted little twerp

Starter home kit.

Beaufort Securities Buy 191.75 220.00 220.00 Retains

cynic - 02 Aug 2017 13:27 - 312 of 314

oh do stop being a bitter and twisted little twerp

Nothing to do with bitter or twisted.. and if there's a twerp around here it certainly isn't me.