26th Feb 2020 17:41
(Alliance News) - Taylor Wimpey PLC said on Wednesday that Non-Executive Director Robert Noel bought GBP76,692 worth of shares.
Shares in the FTSE-100 housebuilder closed 3.0% lower at 212.40 pence each on Wednesday in London.
Noel purchased 36,330 shares at 211.1p each in a transaction on Wednesday. His total shareholding following the transaction was not disclosed.
Earlier on Wednesday, Taylor Wimpey warned its margins would be squeezed in 2020. It said it expects that volumes for 2020 and its operating profit margin in the first half of 2020 will show pressure from 2019 build cost inflation and selling prices, as well as long-term investment in quality and business improvement.
The company posted a 6.4% increase in 2019 revenue at GBP4.34 billion from GBP4.08 billion the previous year. Pretax profit rose 3.1% to GBP835.9 million from GBP810.7 million. Operating profit was GBP850.5, down from GBP880.2 million in 2018, with an operating profit margin of 19.6%, down from 21.6% in 2018.
By Ife Taiwo; [email protected]
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