Builder Taylor Wimpey credits ‘increased political stability’ in the UK as it posts a 5% sales rise
Taylor Wimpey boss Peter Redfern said the market had remained stable in 2019
Taylor Wimpey cheered ‘increased political stability’ in the UK following last month’s General Election as it posted a rise in sales.
The housebuilder said the market had remained stable in 2019 despite Brexit uncertainty, with the number of homes the company sold rising 5 per cent to 15,719.
The average selling price rose 1 per cent to £305,000 during the year, and it ended 2019 with a record order book worth £2.2billion.
Boss Peter Redfern said: ‘The environment is more positive at this point than we have seen for the past couple of years.
‘There is a bit of pent-up demand there.’
Analyst had predicted a 2 per cent rise in sales, so the 5 per cent surge helped Taylor Wimpey shares rise 3.9 per cent, or 7.9p, to 209.9p.
However, the firm said conditions were still ‘challenging’ in London and the South East and vowed to ramp up efforts to slash costs, which have squeezed profits.
The firm paid £600million in dividends last year and said it planned to pay another £610million in 2020.