UK homebuilder Taylor Wimpey retains annual earnings outlook on steady demand
Adds sector context in paragraph 2, CEO comment in paragraph 3 and details in paragraphs 4-5
Nov 7 (Reuters) -UK homebuilder Taylor Wimpey TW.L said on Thursday there has been an improvement so far in the second half of the fiscal year and retained annual earnings outlook, as lower mortgage costs helped counter affordability concerns among homebuyers.
British housebuilders, after battling subdued demand for most of 2024, have witnessed signs of improved demand in recent months, spurred by the Bank of England's interest rate reduction in August and supportive policy measures introduced by the Labour government.
The group is well-positioned for growth in 2025, underpinned by a strong balance sheet and a well-located landbank, CEO Jennie Daly said in a statement.
The High Wycombe, England-based builder said weekly net private sales rate in the second-half year-to-date period was 0.70 homes per outlet, compared with 0.51 units a year earlier.
The FTSE 100-listed builder, which also has minor operations in Spain, reiterated its 2024 UK homebuilding targets towards the upper-end of its forecast range of 9,500 to 10,000 homes.
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-Phillips
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