好色先生TV

Taylor Wimpey said it on track to post operating profit of 拢470m this year, which is at the upper end of its previous forecast.

The housebuilder, in a trading update today, said it has been able to generate operating profit towards the upper end of its 拢440m to 拢470m range due to its focus on 鈥渙ptimising price and sharp cost discipline鈥�.

Analysts responded to the update by suggesting the market downturn may have bottomed out.

Peel Hunt said the 鈥渋mproving position on build costs plus a lack of further pressure on selling prices should be helpful to margins鈥�.

It added: 鈥淲hile conditions remain difficult it is not going to be a sharp bounce back, but it increasingly looks like we are past the darkest days for the sector.鈥�

Andy Murphy, director at Edison Group said Taylor Wimpey 鈥渟eems to have successfully ridden out the storm.鈥�

He said: 鈥淲ith the stalling of mortgage rates and inflation, the continued undersupply of housing in London and the South-east and a slight rise in house prices in October, the residential property sector can end 2023 with cautious optimism.鈥�

But this year鈥檚 predicted operating profit figure is still sharply down on the 拢923m operating profit posted last year with the firm blaming 鈥渨eak consumer confidence鈥�.

Taylor Wimpey also said it is on track to build between 10,000 and 10,500 homes this year, meaning it has hit the upper end of a previous forecast. However, as previously reported, this is nearly a third down on the 14,154 built last year.

Taylor Wimpey said it has 鈥渁cted decisively and proactively鈥� to mitigate risk by controlling costs and delivering efficiencies across the business鈥�.

The firm to save around 拢20m a year.

Taylor Wimpey鈥檚 net private sales rate for the year to date is 0.63, down slightly on 0.74 the previous year.