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Taylor Wimpey 16-week Completions Down, Order Book Rises

Residential developer Taylor Wimpey Plc. (TW.L) reported Thursday that its total Group completions, including joint ventures, in the 16 weeks to April 19 were 2,271 homes, down from 2,644 homes last year, reflecting the impact of site closures due to Covid-19.

The company said its sales centres and show homes have remained closed, while throughout the period of the lockdown it has continued to sell homes, support existing customers and progress purchases on a remote basis.

Since closing sites and sales offices, cancellations have represented only 0.8 percent of the total order book.

As a result of new digital reservation process, order book has continued to increase and at week ending April 19, its total value stood at approximately 2.677 billion pounds, up from 2.40 billion pounds a year ago. This represents 10,880 homes, up from 10,291 homes last year.

The company said it is now confident to have clear plans and processes in place to safely start back on site in a phased way beginning on May 4.

Remobilisation will start on 4 May with a phased process based on detailed new site operating protocols developed in compliance with strict social distancing requirements, on the majority of sites in England and Wales

Sales centres, show homes and regional offices to remain closed.

At this stage, the company does not expect to start work in Scotland, until a return to construction receives the Scottish Government's support.

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