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Housing Today
Trusted media brand of the Chartered Institute of Housing
Taylor Wimpey profit falls 43% as inflation bites
Housebuilding giant says market ‘weakened’ following Bank of England interest rate rise
Taylor Wimpey has reported a 43% fall in pre-tax profit as it battled rising costs and planning delays.
The housebuilding giant, in its half-year results for the six months to 2 July, reported pre-tax profit of £237.7m, down on the £414.5m reported for the same period the previous year.
Its turnover fell by 21.% to £1.64bn, while its profit margin dropped from 20.4% to 14.4%.
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