One of Britain’s biggest home builders Taylor Wimpey told investors this morning that it made a killing from the country’s terrible housing shortage in 2015.
Taylor Wimpey reported its trading statement for the year ending December 31, 2015, which will be officially announced on March 1, 2016, and said that it has built more houses than since the onset of the credit crisis in 2007/2008 and as a result it made a big profit.
Pete Redfern, CEO of Taylor Wimpey said (emphasis ours):
“We have delivered a strong trading performance in 2015, in a positive housing market, building more homes than at any point in the last six years and delivering a record operating profit margin of over 20%.
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.”
Here are other highlights from its statement for 2015:
- Total home completions increased by 7% to 13,341.
- Delivered 2,509 affordable homes (2014: 2,178), equating to 19% of total completions (2014: 17%).
- Average selling prices on private completions increased by 9% to £254,000 (2014: £234,000).
- Overall average selling price increased by 8% to £230,000 (2014: £213,000).