Proactive Investors - Taylor Wimpey PLC (LSE:LON:TW.) steadied nerves in the housebuilding sector after yesterday’s warning by peer Persimmon (LON:PSN) over costs.
In a trading update, the FTSE 100 housebuilder made no mention of the issue but said that house demand had picked up and it expects to deliver UK volumes and operating this year in line with previous guidance.
In the second half of 2024 to date, net private sales rate per outlet per week rose to 0.70 (2023: 0.51) with an order book on 4 November of £2.2 billion.
Taylor Wimpey added it expects to end the year with net cash of £500 million, subject to the timing of land purchases in the remainder of the year with full-year 2024 UK volumes excluding JVs towards the upper end of our guidance range of 9,500 to 10,000 homes.
“As we move towards the year-end, our focus is on building our order book to Looking ahead, we welcome the Government's focus on addressing the UK's housing supply and unlocking the planning system which we expect to have positive implications for the supply of land over the medium term.
“We own and control all land for 2025 completions, almost all of it with detailed planning,” said the statement.
Shares rose 0.6% to 140.5p.