UK housebuilder Taylor Wimpey says sales are up in 2021 to date
- UK housebuilder Taylor Wimpey says sales are up in 2021 to date.
- The housebuilder proposed 4.14 pence per share of an interim dividend.
- Taylor Wimpey plc is over 15% up year-to-date in the stock market.
Taylor Wimpey plc (LON: TW) said on Thursday that its sales are up in 2021 to date. The company also expressed confidence in its order book. Taylor Wimpey said:
“Trading is in line with expectations, and we remain on track to deliver against our guidance set out at our 2020 full-year results in March.”
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Taylor Wimpey opened at 184.80 pence per share in the stock market on Thursday and is currently trading at 183.10 pence per share. In comparison, it had started the year at a lower 157.80 pence per share. The price action should come in handy if you are interested in investing in the stock market.
Taylor Wimpey reports a decline in the cancellation rate
According to Taylor Wimpey, its private sales rate stood at 1.0 between 1st January and 18th April, versus 0.9 in the comparable period of last year. The homebuilder also reported a decline in the cancellation rate from 16% to 14%. Sales prices, it added, have seen an increase since 2020 end.
In separate news from the United Kingdom, property investment and development company Segro plc said it received 89% of the due rent in the second quarter.
As of 18th April, Taylor Wimpey valued its order book at £2.81 billion. In the same period of 2020, its order book was valued at a lower £2.67 billion. The FTSE 100 listed company reaffirmed its target for close to 22% of operating profit margin in the medium term.
In its earlier report published in the first week of March, Taylor Wimpey had posted a 68% decline in its pre-tax profit in 2020.
Taylor Wimpey proposed 4.14 pence per share of an interim dividend
Taylor Wimpey’s board proposed 4.14 pence per share of an interim dividend on Thursday. Further capital returns, it said, were unlikely this year. Excess capital, as per the housebuilding firm, will not be reassessed in March 2022.
CEO Pete Redfern commented on the financial update on Thursday and said:
“We are a cash-generative business with a strong balance sheet and remain focused on our strategic priorities to drive operating profit margin while creating long term value for our customers and shareholders.”
Taylor Wimpey performed largely downbeat in the stock market last year with an annual decline of more than 15%. At the time of writing, it is valued at £6.68 billion and has a price to earnings ratio of 29.35.