Taylor Wimpey plc (OTCPK:TWODF) Trading Update Call April 30, 2025 3:30 AM ET
Company Participants
Jennifer Daly – CEO and Executive Director
Christopher Carney – Group Finance Director and Executive Director
Conference Call Participants
Will Jones – Redburn Atlantic
Allison Sun – Bank of America
Marcus Cole – UBS
Chris Millington – Deutsche Bank
Aynsley Lammin – Investec
Ami Galla – Citi
Zaim Beekawa – JPMorgan
Glynis Johnson – Jefferies
Peter Ajose-Adeogun – Morgan Stanley
Harry Goad – Berenberg
Operator
Hello, and welcome everyone to the Taylor Wimpey Trading Update Call. My name is Becky, and I will be your operator today. [Operator Instructions].
I will now hand over to your host, Jennie Daly, Chief Executive to begin. Please go ahead.
Jennifer Daly
Thank you, Becky. So good morning, everyone, and thank you for joining Chris and I this morning. You’ll have seen the statement, which is pretty straightforward. There are no surprises. We are reiterating the full-year U.K. completions and group operating profit guidance we provided in our prelims in February. Clearly, we are alive to the recent volatility in global markets. However, our customers have remained a resilient and our sales performance has continued as anticipated.
Mortgage rates have ticked down and mortgage product availability remains good. Our sales teams have continued to work hard to support our customers through their buying journey, drawing on the high quality and location of our products with incentives remaining a key feature in the new homes market.
We continue to see better price opportunity in the North and more challenging conditions in the South, owing to the more stretching affordability. But overall, we continue to see the flat underlying year-on-year pricing we noted at the time of our full-year announcement.
The cancellation rate of 16% is robust, but does reflect challenges being experienced
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