Taylor Wimpey PLC (LSE:TW.) has already indicated it expects to report annual operating profit at the top-end of guidance despite an uncertain market and challenging planning backdrop.
The housebuilder said total completions in 2023 were 10,848, down from 14,154 in 2022, with UK home completions down to 10,438 from 13,773.
The net private reservation rate for 2023 was 0.62 homes per outlet per week compared to 0.68 in 2022 with UK average selling prices up 5.1% to £370,000.
Profit for 2023 is seen at the top end of the guidance range of £440 million to £470 million but as Aarin Chiekrie, equity analyst at Hargreaves Lansdown, pointed out, that is half the level of a year ago.
A “robust landbank and a healthy net cash position of £678 million at year-end should help provide a cushion to any potential bumps in the road”, Chiekrie added.
“Against an improving backdrop of falling mortgage rates and lower build-cost inflation, which should improve affordability for buyers, there could be room for a few positive surprises in next week’s update.”