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Taylor Wimpey said it completed more house completions in the first half of 2025, but it cut its interim dividend and lowered operating profit guidance for the full year amid softer UK property market conditions. The Buckinghamshire, England-based housebuilder said it now sees full-year operating profit at £424 million, up 1.9% from £416.2 million in 2024. It had previously expected an outcome in line with consensus of £444 million. Taylor Wimpey said completions rose 11% to 5,264 homes in the six months to June 29 from 4,728 homes a year prior. Adjusted pretax profit fell 21% to £148.1 million in the first half from £187.7 million a year prior, and it turned to a statutory pretax loss of £92.1 million in the first half from a profit of £99.7 million a year before. The company announced an interim dividend of 4.67 pence per share, cut 2.7% from 4.80p a year ago. The difference between the adjusted profit and statutory loss is a £222.2 million increase in the builder’s cladding fire safety provision and £18.0 million in relation to affordable housing contribution and cost of fulfilling commitments, the firm said. Earlier this month, the UK Competition & Markets Authority said seven housebuilders, including Taylor Wimpey, agreed to pay a total of £100 million for affordable housing programmes in the UK, following a probe into price collusion. Of the total, Taylor Wimpey will pay £15.8 million. Taylor Wimpey reiterated is financial 2025 guidance for UK home completions of between 10,400 to 10,800, similar to 10,593 in 2024. The company expects an underlying improvement in operating profit margin in the second financial half, compared to the first half. This is due to a higher weighting of completions expected in the second half, allowing for a greater recovery of fixed costs. ‘While the current market is uncertain, we remain well positioned for growth and own all of the land required for next year‘s completions, over 90% of which has detailed planning,’ Taylor Wimpey said. It added: ‘Following robust trading in the first quarter, we experienced softer market conditions during the second quarter. While lenders remain committed to the UK mortgage market, affordability remains an issue, particularly for first time buyers. Against this backdrop, our highly engaged sales teams remain focused on driving high-quality lead generation and conversion to sales.’ Taylor Wimpey shares fell 4.7% to 102.14 pence each on Wednesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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