With average selling price (excluding joint ventures) up to £264,000 from £255,000, TW saw revenue increase 7.9% to £3.965 billion. Pre-tax profit was up 10.7% to £812 million, however profit for the year reached £555.3 million, down 5.8%, due to the net exceptional charge of £105 million in relation to the leasehold provision recognised in the period.
Taylor Wimpey CEO, Pete Redfern, said: "2017 was another strong year for Taylor Wimpey and we enter 2018 in a good position with positive forward momentum. We have been encouraged by early trading patterns at the start to the year and despite some wider macroeconomic uncertainty, consumer confidence remains robust and market fundamentals are solid.”
Redfern added that he was pleased to see that TW’s investment in customer service has resulted in a notable improvement in customer satisfaction scores.
“We enter 2018 with a strong order book and are well positioned to make further progress against our medium term targets and in delivering long term value for shareholders."
