23 April 2024
If you are covering Taylor Wimpey's latest results, please see the following comment from Oli Creasey, property research analyst at Quilter Cheviot:
“This morning’s trading statement from Taylor Wimpey contains very little to surprise investors, either on the up or downside. The company has reiterated guidance for full year 2024: UK completions between 9,500-10,000, marginally lower than 2023, and for an operating margin slightly impacted by lower prices and minor cost increases.
“The company has made 0.73x sales per outlet per week, approximately in line with the equivalent sales rate this time last year, and it is looking as though 2024 will be a re-run of 2023 for the company, and industry as a whole. However, Taylor Wimpey’s management does see green shoots emerging, remarking that the company is positioned for growth from 2025. While this is encouraging, we do not know what assumptions are being made about house prices and mortgage rates to support that growth.
“We expect little change to share price or expectations given these in-line results.”
