The market can’t seem to make its mind up about Taylor Wimpey PLC (LSE:TW.) with the shares edging lower again after a rally at the start of the year.
February's annual statement underlined the issues. Profits plunged 48% lower as sales fell and costs rose, though this was not as bad as expected.
A Competition & Markets Authority (CMA) housebuilding market study into possible collusion by leading building firms, including TW and six other blue-chip rivals had added to the nervousness.
Signs of a recovery in sales rates are what the market wants, though, with the results, the FTSE 100-listed housebuilder said it expects this year to see a further decline in completed home sales.
Profit margins will also be squeezed by lower house pricing and higher costs, Taylor Wimpey added.