Taylor Wimpey H1 Pretax Profit Rises

Taylor Wimpey (TW.L) reported that its first half profit before tax and exceptional items increased to 414.5 million pounds from 412.5 million pounds, prior year. Adjusted earnings per share was 8.9 pence compared to 9.2 pence.

Profit before tax increased to 334.5 million pounds from 287.5 million pounds, prior year. Earnings per share was 7.2 pence compared to 6.5 pence.

Group revenue was 2.08 billion pounds in the first half of 2022 compared to 2.20 billion pounds, last year, reflecting the lower level of completions in the UK (excluding joint ventures) of 6,587 compared to 7,219, last year.

Looking forward, Taylor Wimpey now expects full year Group operating profit to be around the top end of the current market consensus range.

The Group plans to pay a 2022 interim dividend of 4.62 pence per share in November.

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