The housebuilder recorded Group operating profit of £161 million, compared with £182.3 million a year earlier
LONDON: Taylor Wimpey plc on Wednesday reported a resilient trading performance for the first half of 2025, bolstered by an 11% increase in Group completions despite deteriorating conditions in the UK housing market.
The housebuilder recorded Group operating profit of £161 million, compared with £182.3 million a year earlier. This figure includes a £20 million one-off charge for historical site remediation. A further £222.2 million provision was added for cladding fire safety, contributing to a £92.1 million pre-tax loss for the period, reversing last year’s profit of £99.7 million.
CEO Jennie Daly expressed confidence in the company’s long-term outlook: “We delivered a good underlying performance… [and] remain well positioned for growth and attractive returns for shareholders.” Daly added that affordability constraints remain a challenge, particularly for first-time buyers, although lender commitment to the mortgage market and unmet housing demand offer structural support.
Group completions reached 5,264 homes, including joint ventures, up from 4,728 in H1 2024. The company maintained guidance for full-year completions between 10,400 and 10,800, with a full-year operating profit expectation of approximately £424 million, unchanged on an underlying basis.
Order book strength persisted, with £2.116 billion in value as of 29 June, while the total UK average selling price fell 1.3% to £313k. Taylor Wimpey operated from 206 outlets on average during the period, down from 224 a year earlier. The business was again recognised as a five-star builder by the Home Builders Federation.
Despite softer trading in Q2, Daly highlighted improvements in customer satisfaction and construction quality, including a higher CQR score of 4.97. Looking ahead, management expects H2 margins to benefit from greater completion volumes and higher ASPs, partially offset by low single-digit build cost inflation.
Taylor Wimpey will host an Investor and Analyst Event in London this October, where leadership will outline strategy for navigating the current housing cycle and driving growth beyond 2025.