Taylor Wimpey Share Discussion Threads

[goldbug6] 29/4/2010 10:36

More like 39p. I was hoping for more to be honest.

[superbarnet] 29/4/2010 10:31

I was thinking 49p but would not want to split hairs!

[restassured] 29/4/2010 10:02

Quite reasonable.

[sir brainy] 29/4/2010 09:42

Yes - I'm thinking 50p within 3 weeks

[restassured] 29/4/2010 09:21

Market seems to like the statement.

According to UBS we should see a significant post election rally in UK housebuilders.

[sir brainy] 29/4/2010 09:20

Little intraday pennant forming ready for the breakout when the re-rating notes start appearing

[the_analyst] 29/4/2010 08:11

max,
Agree that is it solid statement (contents), but imo, poorly worded. I guess the big boys will know which bits to read. The overcautious words are probably there to justify their bonuses! ;0)

[tonybaloni] 29/4/2010 08:11

No mention of Spain.......... mmmmmm

[imastu pidgitaswell] 29/4/2010 08:08

Note the quote is about sales rates, i.e. sales per site being the same as in 2009 in the UK (up in the US). There are of course more sites open than in 2009, so total sales volumes are up accordingly, along with prices.

Not a bad scenario...

[maxharry] 29/4/2010 07:59

Thw wind is blowing in our direction...Solid statement for us long term holders.

[jibba_jabba] 29/4/2010 07:55

Nationwide HPI m/m up 1.0%

[baron von richthofen] 29/4/2010 07:55

Taylor Wimpey prices up 9%

Thu 29 Apr 2010

TW. - Taylor Wimpey

LONDON (SHARECAST) - Taylor Wimpey has lifted selling prices of homes in the UK by 9% since January as the housing market continues to recover.

The housebuilder adds that UK market conditions remain "encouraging, with continued gradual improvements in mortgage availability and buyer confidence".

Prices achieved on sales of private homes are up by approximately 9% on the equivalent period in 2009, of which around 5% results from active changes in mix and approximately 4% from underlying price increases, it added.

Year to date sales rates for North America are also ahead of the equivalent period in 2009.

In the US, the average sales rate per site per week, net of cancellations, is 0.48 for the year to date ahead of the 0.37 in the corresponding period of 2009. The business in Canada continues to perform strongly, it added.

In the UK, Taylor Wimpey says the underlying shortfall of new build housing and the strong levels of demand will continue to underpin the market, while the US is forecasts to start to recover more steadily by the end of the year.

Net debt stands at about £660m, in line with its plans, the firm added.

[the_analyst] 29/4/2010 07:53

At least the market should open up today so hoping for some positive reaction.

[gbh2] 29/4/2010 07:48

Not done much about paying off debt and there's quite a few mention of market uncertainy!

[damac] 29/4/2010 07:43

No surprises in the results, pretty much as everyone would expect I'd imagine. However, the overall tone of the statement comes across as somewhat gloomy and I cant see it shaking us free of the wider economic issues that are effecting the markets just now, can't see it going far today, hope I'm wrong though.

[purplebox] 29/4/2010 07:40

Taylor Wimpey Prices Up 9%

[the_analyst] 29/4/2010 07:36

Apart from the intro, the first three paragraphs are very upbeat. Then the tone slowly becomes insipid.

Not the style of statement I was expecting from a CEO who earned his full bonus. Far too many cautious words, all standing out louder than the progress being made. We still have a strong order book. Debt reduced. No mention of start ups (sites) and no mention of Spanish business (I know we are supposed to be exiting that region).

I like the title from British Financial Newswire: "Taylor Wimpey says UK housing market encouraging"

IMO, not something to set the share price alight, but feel safe holding long.
DYOR $ GL holders.

[damac] 29/4/2010 07:36

29 April 2010

Taylor Wimpey plc
Interim Management Statement

Taylor Wimpey plc is holding its Annual General Meeting at 11:00 today in
London, where the following comments will be made regarding current trading,
financial performance and the outlook for the financial year. In line with the
requirements of the UK Listing Authority's Disclosure and Transparency Rules,
this Interim Management Statement covers the period from 1 January 2010 to the
date of this announcement.

The Group as a whole has performed in line with our expectations in a gradually
improving, but still uncertain, trading environment.

UK Housing

Market conditions remain encouraging, with continued gradual improvements in
mortgage availability and buyer confidence.

We entered 2010 with a strong order book position and have continued to focus on
building on this sales momentum and enhancing margins. We are approximately 99%
sold for the half year and 74% sold for the full year targeted completions.

Private sales rates remain in line with those achieved in the equivalent period
of 2009 at an average of 0.61 sales per site per week net of cancellations.
Cancellations are running at long-term low levels of 14.8% for the year to date,
which is also a significant improvement on the 18.5% in the equivalent period of
2009.

Prices achieved on sales of private homes are up by approximately 9% on the
equivalent period in 2009, of which around 5% results from active changes in mix
and approximately 4% from underlying price increases.

We remain active in the land market, focusing our attention on the opportunities
available to acquire good quality land at attractive prices.

North America Housing

Affordability remains extremely good in our US markets and recent data releases
indicate that the gradual increase in housing starts, prices and builder
confidence is continuing, assisted by the Homebuyer Tax Credit programme. Our
markets in Canada continue to see steady price improvement.

Year to date sales rates for North America are ahead of the equivalent period in
2009, largely offsetting the reduction in the number of active outlets. In the
US, the average sales rate per site per week, net of cancellations, is 0.48 for
the year to date ahead of the 0.37 in the corresponding period of 2009.

Our business in Canada continues to perform strongly. It has delivered a
significant improvement in net sales per site per week to 1.07 for the year to
date against a 2009 year to date comparative of 0.52.

For North America as a whole we are approximately 99% sold for the half year and
69% sold for the full year targeted completions.

We continue to evaluate new land opportunities, particularly where we see value
in longer-term assets.

Group financial position

We have generated further cash since the year end and net debt stands at cGBP660
million, in line with our plans (31/12/2009: GBP750.9 million).

Outlook

We are encouraged by the ongoing signs of improvement across our main markets.

Although economic and political risks remain in the UK, we believe that the
underlying shortfall of new build housing and the strong levels of demand will
continue to underpin the market. However, we remain concerned that the shortage
of consented land will artificially constrain industry volume recovery in the
medium term.

In the US, we continue to expect to see relatively volatile sales patterns over
the next few months, settling into a sustainable recovery towards the end of
this year. The Canadian market has continued to perform well and we expect this
to be maintained.

Our active cost reduction, high quality landbank and strong order book position
us well to increase profitability as markets recover.

-ends-

For further information please contact:

Taylor Wimpey plc
Tel: [phone]
Pete Redfern, Group Chief Executive
Chris Rickard, Group Finance Director
Jonathan Drake, Investor Relations

Finsbury
Tel: [phone]
Faeth Birch
Clare Hunt

[sir brainy] 29/4/2010 07:22

Looks pretty good to me. Obviously you'd have to question how much is already in the price but with that level of completions, achieving the full year forecast is a dead cert and TW. throwing off cash very nicely which the instis always love.

[spennysimmo] 29/4/2010 07:17

Nationwide hpi - house prices rose 1% in April.

[steviebaby] 29/4/2010 07:16

The view from a non-holder who has been waiting for this statement before deciding whether or not to invest .....

Not on the basis of that statement.

[restassured] 29/4/2010 07:14

Not sure we are reading the same statement!!

I think it reads positively.

Sales picking up,debt further reduced.

[purplebox] 29/4/2010 07:14

IMO the results are good :-).

[grax] 29/4/2010 07:12

Unusually downbeat for TW.

Don't see much gain out of that set of figures.Disappointing.

[get rich quick] 29/4/2010 00:00

I liked idiot Gordy telly her that 1mln people have come in and 1mln have gone to work in Europe. The trouble is MR THICKY BROWN is that the 1mln coming in are mostly here to scrounge of the state and the mln fleeing were all skilled/talented tax payers. still, should be good for my cnt shares