Taylor Wimpey sees encouraging start to 2012

Jan. 17, 2012
<p>Taylor Wimpey says that the first two weeks of 2012 have seen a continuation of the encouraging market at the end of last year, with good visitor levels and healthy reservations.</p> <p>In a trading statement released today, the firm says that it expects group operating profit in the second half of 2011 to rise by more than 80% year on year and for the firm to hit double digit operating margins in the UK in the period.</p> <p>TW described the market as "robust" and said that it had "exceeded expectations" with stable prices and higher visitors and reservations.</p> <p>That trend had continued into the first two weeks of 2012, the firm said.</p> <p>"In 2011 we have taken the opportunity to focus on our strategy of delivering value for shareholders through margin improvement and improving return on capital," said Taylor Wimpey chief executive Pete Redfern. "It is pleasing to have reached our double digit operating margin target ahead of schedule and to be well placed to deliver future improvement providing market conditions remain broadly stable." </p>

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