Business
Half year results
Half year results.
About this update from Taylor Wimpey Plc
[{"type":"text","content":"\n \nRNS Number : 6725N Taylor Wimpey PLC 30 July 2014 \n \n\n \n \n \n \n30 July 2014\nTaylor Wimpey plc\nHalf year results for the period ended 29 June 2014 \n \nHighlights \n· Strong progress made towards medium term targets for the Group:\no Operating profit margin* up 300 basis points to 16.1% (H1 2013: 13.1%)\no Return on net operating assets** up 350 basis points to 17.8% (H1 2013: 14.3%)\no Tangible net asset value per share† increased by 9.5% to 73.6 pence (H1 2013: 67.2 pence) \n \n· Completed 5,766 homes across the UK, up 11%, with a 10% increase in total average selling price to £206k\n· Acquired 4,336 plots in the UK short term land market in quality locations\n· Worked with communities, planners and landowners to convert a record 7,195 plots from the strategic pipeline in order to develop much needed new homes across the UK \n· Contributed c.£116 million to local communities across the UK via planning obligations \n· Maintenance dividend up 9% reflecting increase in net assets \n· 2015 cash return increased by £50 million to £250 million \n \nPete Redfern, Chief Executive, commented:\n\"Our strategy, coupled with the improvements in the UK housing market, has enabled us to significantly improve the quality of our financial performance, whilst delivering sustainable growth of much needed new homes and contributing £116 million to local communities. In early July we began our cash return to shareholders, a key part of our active management of the cycle, and with confidence in the underlying strength and future performance of the business, we are pleased to announce that we now plan to increase our July 2015 payment.\"\n \n\n\n\n\nContinuing Group\n\n\nH1 2014 \n\n\nH1 2013\n\n\nChange \n\n\nFY 2013 \n\n\n\n\nRevenue £m\n\n\n1,190.1\n\n\n1,007.1\n\n\n18.2%\n\n\n2,295.5\n\n\n\n\nOperating profit* £m\n\n\n192.1\n\n\n132.4\n\n\n45.1%\n\n\n312.9\n\n\n\n\nProfit before tax and exceptional items...