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Taylor Wimpey profits fall after slowdown
Evening Standard
|February 28, 2024
TAYLOR WIMPEY pointed to signs of improvement in the homes market today, as the builder became the latest major name in the industry to reveal the impact of the 2023 sales slowdown.
The FTSE 100 developer reported a 43% slump in profit for the year of £474 million after revenue fell by more than a fifth to £3.5 billion. The declines came as rising interest rates made mortgages less affordable, constricting demand for houses.
But average selling prices continued to rise. On private completions at Taylor Wimpey, it was up 5.1% to £370,000 and the overall average selling price rose 3.5% to £324,000.
Denne historien er fra February 28, 2024-utgaven av Evening Standard.
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