Business
Trading statement for the year ended 31 Dec 2017
Trading statement for the year ended 31 Dec 2017.
About this update from Taylor Wimpey Plc
[{"type":"text","content":"\n \nRNS Number : 4173B Taylor Wimpey PLC 10 January 2018 \n\n \n \n10 January 2018\nTaylor Wimpey plc\nTrading statement for the year ended 31 December 2017\n \nTaylor Wimpey is issuing the following update on trading ahead of its full year results for the year ended 31 December 2017, which will be announced on 28 February 2018.\n \nOverview\nPete Redfern, Chief Executive, commented: \n \n\"We achieved a strong financial and operational performance in 2017 and are continuing to deliver against our strategy. Despite wider macroeconomic uncertainty, housing market fundamentals remain solid and our trading performance has been good. We continue to increase housing completions, achieving 5% growth during the year, and ended 2017 with a good forward order book.\n \nWe were particularly pleased with the improvements in our customer satisfaction metrics during the year, which were the result of a number of changes made to our approach in 2016. In the last six months we recorded average customer satisfaction scores of over 90%, and we will continue to prioritise making further improvements in this area. \n \nWe go into 2018 with positive momentum and expect to achieve further progress against our medium term targets. Our focused strategy of managing the business through the cycle, while also driving further operational improvements, will enable us to continue to deliver long term value for shareholders.\" \n \nUK current trading \nAgainst the backdrop of a positive housing market in 2017, we continued to see good demand and trading throughout the year. Customers continued to benefit from a wide range of mortgage products, low interest rates and the Government's Help to Buy scheme. Employment trends continue to be healthy and customer confidence remains robust. \n \nIn 2017 total home completions increased by 5% to 14,541, including joint ventures (2016: 13,881). During 2017 we delivered 2,809 affordable homes (2016: 2,690), including joint ventures, equating to 19% of total completions (2016: 19%). \n \nOur net private reservation rate for 2017 was 0.77 homes per outlet per week (2016: 0.72), and cancellation rates remained low at 13% (2016: 13%). Average selling prices on private completions increased by 3% to £296k (2016: £286k), with the overall average selling pric...