Oh dear, two large companies combine and, like an intergalactic "event" only negative matter remains....a case of 1 + 1 = 0.2

Let me say - sp a year ago was 10x today's - so this business has earned its place in the 90% club....and maybe more to come, as they will need to go overseas for cash, if the UK is dry.

I doubt there is a UK Builder with enough dosh to bail-out this dullard. They all thought they could expand until the UK burst with immigrants - yet they consistently went for pricier properties and projects where ( even now), there is some doubt whether there are enough jobs to support new-build developments.

EDIT ( Nov 2015 ) - Seven years on and we're at 183p - so anyone that bought at the all-time Low has done very well - but the Market was fearful and that meant few were Buying. 2009/2010 averaged about 40p - that was a good time if you had the LT cash.
With the rise and yield-multiplier effect, this is looking like Buying it was "probably" inspired.... but it has not regained that earlier Value - which will surely take a lot longer.

Trading Statement on Monday.

Still got all mine , fingers crossed .... and if I can get Limpy to ramp them then whoooooooooosh !

:-)

Think he is long/short MTC atm :-)

lol

Trading Statement

Strategy drives significant increase in profits

Taylor Wimpey is issuing the following update on trading ahead of its full year results for the year ended 31 December 2012, which will be announced on 1 March 2013.

Overview
We expect to report 2012 full year profits at the upper end of our expectations with Group operating profit up over 40%, as we continue to deliver against our key objectives through the successful implementation of our strategy. Full year Group operating margin will be ahead of that reported for both the first half of 2012 and 2011 full year (H1 2012: 11.1%, FY 2011: 8.8%).

Pete Redfern, Chief Executive, commented:

"2012 was another year of significant progress for Taylor Wimpey with an increase of over 40% in Group operating profit. We are delivering on the strategy that we set out in 2011, including a return to UK double digit operating margin ahead of schedule. As we look forward to 2013, we are confident that we will continue to deliver against our key objectives and target further improvement."

UK current trading
Underlying market conditions have remained stable since our Interim Management Statement on 12 November 2012. While mortgage availability remains restricted, some major lenders have recently reduced their rates and we hope that this trend will continue as the Funding for Lending scheme gains traction.

Average selling prices on private completions increased by 6% to £197k, against a backdrop of broadly flat house prices in the wider market. This increase has been driven primarily by the enhanced quality of our locations. Our overall average selling price has increased by 6% to £181k (2011: £171k). Home completions increased by 7% to 10,886 (including our share of joint venture completions) up from 10,180 in 2011, of which 18% were affordable housing completions (2011: 20%). Our net private reservation rate for the full year was 0.58 homes per outlet per week (2011: 0.54) with cancellation rates below the long term average at 15.2% (2011: 15.8%).

We start 2013 in an excellent position with a substantial order book with an increase of 14% in value to £948m as at 31 December 2012 (31 December 2011: £835m), representing 5,966 homes (31 December 2011: 5,379 homes). Our focus on prioritising both short and long term margin performance ahead of volume growth remains and we are pleased to report further improvement in the margin in the order book with the growth driven by the strength of the private reservations.

We remain supportive of Government initiatives to bring forward much needed new homes. During 2012 we have supported our customers with the purchase of 1,203 homes under the Government's FirstBuy scheme and a total of 546 homes under the NewBuy and MI New Home schemes. We have been awarded an additional FirstBuy funding tranche and will continue to target the use of this funding across selected sites.

I'm surprised TW. isn't up more this morning on the back of this statement. Maybe it's already reflected in the sp which is getting ahead of reality?

So am I.

Holding my shares for long term and bought a few SBets. V. small no. with tight Stop.

----

But looking at a lot of shares at the weekend many prices of 350 are ahead of estimated earnings.

Funny market.

I closed a S/B here Friday and have been reducing in the sector as a whole. As posted earlier - its all getting a bit 'fizzy' (frothy?) IMHO.

StockMarketWire.com
Taylor Wimpey's trading statement has prompted a number of brokers to issue research notes today.
The general theme coming through from the various analysts' comments was that despite the numbers being at the higher end of expectations this had already been priced into the stock. This is reflected by the modest share price movement seen so far today especially given the high volume of shares traded. At 2:30 pm the shares were down 0.95 pence at 73.3 pence. Numis was the only broker to change it's recommendation by downgrading to "hold" from "buy". The City broker increased its target price to 77 pence from 61 pence. Panmure Gordon, Shore Capital, Northland Capital and Davy all reiterated a hold or neutral rating while Jefferies stayed at buy. In terms of the wider view held by the City banks and stockbrokers, Broker Forecasts consensus data highlights that 44 per cent of brokers have a buy recommendation in place, 6 per cent are at sell and the remainder are at hold / neutral.

So 50% hold. Hedging bets. Makes sense to me.
Trouble is, I no longer hold.

StockMarketWire.com
Citigroup cuts Taylor Wimpey to neutral from buy, target 73p from 67p

Harry - I stick to my post above.

I think you are correct skinny. If & when the market pulls back, then might be time to dip back in again. Depends on whether trading or investing though.

At the heights that the builders have reached recently, it would have to be trading.

At the moment I am cursing my latest trade.

But patience may pay.

Results for the year ended 31 December 2012

Highlights

· Progress against each of our key financial objectives:
• UK operating profit margin* increased to 11.5% (2011: 9.0%**)
• Group return on net operating assets*** increased to 13.6% (2011: 9.8%)
• Tangible net asset value per share† 61.5p (2011: 57.3p)

· 44% increase in Group operating profit* to £230.1 million (2011: £159.5 million)
· 124% increase in adjusted basic earnings per share to 4.7p (2011: 2.1p)
· Significant improvement in UK operational performance:
• 44% increase in operating profit* to £228.8 million (2011: £159.3 million)
• Completed 10,886 homes at an average selling price of £181k (2011: 10,180 homes at £171k)
• Extensive strategic landbank of 100,340 plots (2011: 86,236)
• Total order book value increased by 14% to £948 million at 31 December 2012 (2011: £835 million)
• Customer satisfaction increased to 93.2% (2011: 92.1%)
• Reduction in waste generated per 1,000ft2 built to 3.36 tonnes (2011: 3.44 tonnes)
• Contributed over £175 million to our local communities via Section 106 and Section 75 planning obligations (2011: £161 million)
• Continue to compare favourably with the construction industry with an Annual Injury Incidence Rate (AIIR) of 389 versus the 2011/12 'Construction Sector Rate' of 589
· Reduction in net debt to £59.0 million (31 December 2011: £116.9 million) with further improved debt efficiencies
· Agreed in principle to merge the two pension schemes as part of ongoing pension exposure management using £100 million Pension Funding Partnership backed by market value show homes
· Dividend policy remains unchanged - final dividend of 0.43p proposed (2011 final: 0.38p)

serves me right not to have followed these for a while ..... i think they've nearly doubled since i last held and these look to be cracking results

Notice of Results

Taylor Wimpey advises that it will issue its Interim Management Statement on 25 April 2013 to coincide with its Annual General Meeting.

The Company will issue its Trading Update for the half year ended 30 June 2013 on Thursday 4 July 2013.

Half Year Results will be announced on Wednesday 31 July 2013.

Still going well.

JP Morgan Cazenove Overweight 89.30 88.25 81.00 103.00 Upgrades