Housebuilder Taylor Wimpey built more homes than at any point in the last six years in 2015 when it also achieved a record operating profit margin of more than 20 per cent.
In a trading statement, the FTSE 100 company – which is the UK’s third largest homebuilder – said that completions rose 7 per cent last year to 13,341, of which 19 per cent were affordable homes.
The average price per unit increased 8 per cent to £230,000 in 2015, while the company’s order book at the end of 2015 reached a record £1.8 billion (7,484 homes), up 27 per cent from the end of 2014.
Group finance director Ryan Mangold told The Herald that he expects the company’s performance in Scotland in 2016 to be similar to 2015, when 1,100 homes were built, up 8 per cent up on 2014.
The “only real difference” between the housebuilding environment north and south of the border are the way the Help to Buy scheme for first time home buyers is administered, Mangold said, adding that the Taylor Wimpey has a strong land bank in Scotland.
Chief executive Pete Redfern said that a positive housing market – including announcements of new government house building schemes – had boosted the company’s performance in 2015.
“We are confident that the principles we are operating to will deliver long term sustainable value across the housing cycle, and we remain focused on working with communities and our customers, suppliers and employees to drive continual improvement in the quality and consistency of our operational business,” he said.
The company reported that there had been improvements in the Spanish market, where it completed 251 homes last year at an average price of £236,000.
Taylor Wimpey ended the year with net cash of around £225 million, after the payment of £308m to shareholders.
Taylor Wimpey will publish its full year results on March 1.
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