Cladding provisions hit Taylor Wimpey figures

Taylor Wimpey completed 5,264 homes in the first half of the year, 11% up on last year’s 4,728. But £222.2 million of new cladding fire safety provisions saw the firm report a loss for the period. Operating profit fell 12% to £161 million largely due to a £20 million charge following the failure of a contractor carrying out remedial works on a former TW site.

Much of the new cladding provision is due to the discovery of cavity barrier remediation requirements which were revealed behind brickwork and render and not visible in earlier non-intrusive assessments. As a result of this, and other charges such as an £18 million provision for the CMA deal, TW posted a loss before tax of £92.1 million for the period.

Jennie Daly, TW chief executive, said: "We delivered a good underlying performance in the first half of 2025 in line with our expectations, notwithstanding softer market conditions in the second quarter.

“While affordability remains constrained, particularly amongst first time buyers, lenders remain committed to the UK mortgage market and long term fundamentals are positive, with significant unmet need for UK housing.

“The safety of our customers remains our highest priority - …