Achi news desk-
It kept firm its financial guidance for the year in an update ahead of its annual general meeting, with recent trading matching its expectations.
Taylor Wimpey, which has sites across Scotland, told shareholders it had seen “encouraging” traffic to its website and “good levels” of visits to its site.
It reported net private sales for the year to April 21 of 0.73 per store per week, down slightly from 0.75 over the same period a year earlier.
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Jennie Daly, chief executive of the High Wycombe company, said: “We have made a good start to 2024 with the spring selling season progressing as expected.
“While we are aware of continued market uncertainty and affordability challenges, it is pleasing to see continued market stability supported by the availability of good mortgages and continued customer confidence.”
Ms Daly added: “Looking forward, we are confident that we have a strong and resilient business supported by a high-quality, well-positioned land bank.
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“We remain focused on driving value and investing in the long-term sustainability of the business, and we remain on track to deliver on our guidance for 2024 while ensuring we are in a position to grow from 2025 onwards, assuming that market conditions are supportive.”
Shane Carberry, industrial analyst at Goodbody, said: “We believe this is an encouraging update from Taylor Wimpey.
“It is positive to see the sales rate remain resilient in recent weeks and we can take comfort in the full year guidance being unchanged.”
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Andy Murphy, financial and industrial director at Edison Group, said: “Taylor Wimpey’s latest trading statement reflects a promising start to 2024, with the Spring selling season progressing as predicted despite market uncertainty and affordability concerns.
“The company has been resilient during challenges, with its strong customer support efforts and effective marketing strategies driving interest in its properties.”
It pointed to the slight drop in total order value of £2,090m, set against £2,379m, the previous year, and said that Taylor Wimpey “maintains confidence in its high quality land bank located strategically and his economical land acquisition method of creating shareholders. value”.
The company reiterated its commitment to its dividend policy and expects housing completions in the UK for 2024 to be in the range of 9,500 to 10,000 homes.
“With a clear strategy and a focus on long-term growth, Taylor Wimpey remains well-positioned to navigate market fluctuations and take advantage of future opportunities, demonstrating its ability to deliver value to stakeholders over time,” said Mr Murphy. .
Oli Creasey, property research analyst at Quilter Cheviot, said the trading statement contained “very little to surprise investors, either for the better or the worse”, adding that “Taylor Wimpey’s management sees green shoots coming to’ r obvious, indicating that the company is in a position to grow. from 2025 onwards”.
He said: “Although this is encouraging, we do not know what assumptions are being made about house prices and mortgage rates to support that growth.
“We do not expect much change in the share price or expectations given these internal results.”
Shares in the FTSE 100 company closed up 1.25%, or 1.65p, at 133.85p.
