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Taylor Wimpey builds up its land bank

House price inflation has driven up profits and enabled it to opportunistically purchase land.
Taylor Wimpey builds up its land bank
  • Operating profit up to £424m compared to a loss of 16.1m last year.
  • Land pipeline at c.147k potential plots, up from 139k in December 2020.

The exceptionally hot housing market, driven by the stamp duty holiday, has shot Taylor Wimpey (TW.) to a strong set of half year results. Its revenue, operating profit, margin and completion numbers were way up on 2020, when Covid-19 impacted the business significantly. It has used this momentum to complete lots of land acquisitions, which is promising for its medium-term prospects. However, there are some grey clouds on the horizon in the shape of raw material inflation and a potential housing price bubble.

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