Taylor Wimpey says housing market stabilising but sales rate dip posted
The housebuilding giant held firm on its financial guidance for 2024 in an update ahead of its annual general meeting.
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Your support makes all the difference.Taylor Wimpey has said it has made a “good start” to 2024 as the housing market stabilises but it reported another dip in sales.
Shares in the FTSE 100 firm moved higher on Tuesday morning.
The housebuilding giant held firm on its financial guidance for 2024 in an update ahead of its annual general meeting (AGM), with recent trading matching its expectations.
Jennie Daly, chief executive of the High Wycombe-based company, said: “We have made a good start to 2024 with the spring selling season progressing as expected.
“While we are mindful of ongoing market uncertainty and affordability challenges, it is pleasing to see continued market stability supported by good mortgage availability and sustained customer confidence.”
We are confident that we have a strong and resilient business supported by a high-quality, well-located landbank
Taylor Wimpey told shareholders it has seen “encouraging” traffic to its website and “good levels” of visits to its site.
It reported a net private sales for the year to April 21 of 0.73 per outlet per week, dipping slightly from 0.75 over the same period a year earlier.
Ms Daly added: “Looking ahead, we are confident that we have a strong and resilient business supported by a high-quality, well-located landbank.
“We remain focused on driving value and investing in the long-term sustainability of the business, and we remain on track to deliver our guidance for 2024 while ensuring we are positioned for growth from 2025, assuming supportive market conditions.”
Shane Carberry, industrials analyst at Goodbody, said: “We believe this is an encouraging update from Taylor Wimpey.
“It is positive to see the sales rate remaining resilient in recent weeks and we can take comfort in the full-year guidance remaining unchanged.”