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Author Topic: Taylor Wimpey 2011 results show operating profits increased by 80.6%  (Read 11649 times)

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The Prophet

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Taylor Wimpey reported operating profits up by 80.6% to £159.5 million (up from £71.2 in 2010) in their financial report for the year to 31 December 2011.

During the year the group completed 10,180 new homes, a rise of 2.2% on 2010 whilst the average selling price remained unchanged at £171,000.

Taylor Wimpey Chief Executive, Pete Redfern, said:
"Our performance is the result of a continued focus on driving value by prioritising a further improvement in margins and return on capital.
In 2011, we saw significant progress in our operational performance and I am pleased that we have reached our double digit operating margin target ahead of schedule.
While wider economic conditions remain uncertain, the UK has seen a period of continued stability in the underlying housing market and strong growth across a number of areas as shown by our order book. We feel well-positioned to deliver further improvement through our value-driven strategy."


BobTB

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This is the operating profit, not the before tax profit.
But it shows how much the house builders are making from each new home they sell.
As their CEO says their focus is on "driving value by prioritising a further improvement in margins and return on capital"
No mention of customer satisfaction or improving the quality of their homes!
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