Taylor Wimpey PLC (LSE:TW.) warned that first-half profit margins would be lower than last year's due to mix effects and pricing headwinds in the early part of the year, but stated its confidence in still meeting full-year guidance.
The housebuilder reporting a resilient start to 2025 in its AGM statement on Wednesday, saying that trading during the spring selling season was in line with expectations.
Net private sales per outlet per week was 0.77 in the year to 27 April, up from 0.74 a year earlier. The total order book value rose to £2.3 billion, compared with £2.1 billion a year earlier.
CEO Jennie Daly said: “The spring selling season has progressed in line with expectations, with good levels of customer demand reflected in our sales rate.”
She added that affordability was improving, though some first-time buyers continued to face challenges.
For the full year, the housebuilder still expects to complete between 10,400 and 10,800 home sales, excluding joint ventures, and said it expected to deliver approximately 45% of that volume in the first half.
Average selling prices are forecast at £330,000 for the first half and £340,000 for the full year.
The group expects 2025 operating profit to remain in line with prior guidance.