Taylor Wimpey sees FY profitability to top of consensus

Taylor Wimpey expects to deliver FY profitability at the upper end of market consensus, which was for EBITA between £706.4m and £755.0m.

"Looking ahead, we remain confident that our disciplined strategy will enable us to continue to deliver value over the long term," it said.

"We are pleased to report good progress in 2016, with an increase in housing completions and robust trading despite wider macroeconomic uncertainty," the company said in a statement.

"In a market characterised by solid fundamentals, we ended the year with a strong forward order book and made good progress against our enhanced medium

OUTLOOK

"We start the year in an excellent financial and operational position with significant embedded value in our short term landbank and strategic pipeline.

"We expect to demonstrate further progress throughout 2017 against all of our medium term targets, delivering increased returns for our shareholders and focusing on areas of the operational business where we can add value, including driving further improvements in our customer service processes and product quality."