Solid Performance with Cautious Outlook

Taylor Wimpey announced that it is on track to deliver 2018 results in line with expectations. Its weekly sales rate is comparable to last year running at 0.81 per outlet.

Pete Redfern, Taylor Wimpey’s CEO, commented: “We have delivered a strong performance during the second half of 2018, with very good sales rates supported by positive customer demand and a supportive lending environment.

There was also a hint of caution in the trading statement: “Whilst current forward indicators for sales continue to be solid, unsurprisingly due to the heightened political and economic uncertainty, we have seen some signs of customer caution, particularly in the south-east. We expect next year’s volume to be broadly flat in current market conditions.”