Business
Full Year Results
Full Year Results.
About this update from Taylor Wimpey Plc
[{"type":"text","content":"\n \nRNS Number : 5453Q Taylor Wimpey PLC 01 March 2016 \n\n \n \n1 March 2016\nTaylor Wimpey plc\nFull year results for the year ended 31 December 2015\n \nPete Redfern, Chief Executive, commented:\n\"Taylor Wimpey delivered a record performance in 2015, building over 13,000 homes across the UK and contributing over £335 million to local communities. We are focused on creating long term value and are supportive of policy initiatives that promote sustainability and reduce volatility in the housing market.\n2016 has continued to be positive across all of our regional markets, with demand strong and good access to mortgages. With a strong order book and high-quality landbank, we continue to work with stakeholders to ensure we open all sites with implementable planning and begin building as quickly and efficiently as possible. \nWe are focused on continuous improvement in the basics of the business, through our continued investment in our people, product and customer service.\"\n2015 UK operational highlights \n· Completed a total of 13,219 homes (excluding joint ventures) across the UK, up 7.5% (2014: 12,294 homes)\n· 8.0% increase in total average selling price to £230k (2014: £213k)\n· Short term landbank of c.76k plots with 60% sourced from the strategic land pipeline\no Acquired 6,971 high-quality plots in the short term land market \no Worked with communities, planners and landowners to convert a further 8,660 plots from the strategic pipeline\n· Record year end order book representing 7,484 homes (31 December 2014: 6,601) with a total value of £1,779 million (31 December 2014: £1,397 million), excluding joint ventures\n2015 Group financial highlights \n· Strong financial performance, delivering on our three year medium term targets in the first year:\n\n\n\n\n \n\n\n2015\n\n\n2014\n\n\nChange\n\n\n\n\nOperating profit* margin\n\n\n20.3%\n\n\n17.9%\n\n\n2.4ppt\n\n\n\n\nReturn on net operating assets**\n\n\n27.1%\n\n\n22.5%\n\n\n4.6ppt\n\n\n\n\nIncrease in net assets (including returns to shareholders) ††† \n\n\n19.6%\n\n\n15.8%\n\n\n3.8ppt\n\n\n\n\nCash conversion \n\n\n67.0%\n\n\n43.1%\n\n\n23.9ppt\n\n\n\n\n \n· Total maintenance dividend for 2015 of 1.67 pence ...