21st Nov 2006 07:01
Taylor Woodrow PLC21 November 2006 Taylor Woodrow plc Trading Update Taylor Woodrow is hosting a site visit for analysts in Swindon later today, atwhich the following views on current trading will be discussed. Copies of thepresentations will be available at www.taylorwoodrow.com. Group Overall, we anticipate full year results for 2006 to be towards the top end ofexpectations. UK We continue to expect modest growth in home completions for the full year, withaverage selling prices per square foot above those achieved in the first half.Although the market continues to vary regionally, we are in the mainexperiencing more steady conditions than in 2005. Net reservations per site perweek are ahead of last year and cancellation rates are lower. Our landbank continues to strengthen and we have good opportunities for growthin 2007 and 2008, assuming market conditions remain stable. North America We remain on course to deliver our expected growth in home completions and fullyear profits from our North American business in 2006. Our strategy ofmaximising forward sales in the buoyant market conditions of 2005 has mitigatedthe impact of continuing weakness in Arizona, California and Florida. As expected, the autumn selling season has seen reduced levels of reservationsand higher levels of cancellations compared with the same period last year. Ourorder book at the end of October 2006 is 22 per cent below last year's recordposition by dollar value. With the exception of Canada, Texas and parts of Florida, our North Americanmarkets remain challenging and difficult to predict, mainly due to industrylevels of stock overhang. Spain & Construction The performance of our housing business in Spain and Gibraltar and that of ourConstruction business remain in line with expectations. -ends- Notes to editors: Taylor Woodrow is a housing development group. Its primary business is thedevelopment of sustainable communities of high quality homes across the UK andin selected markets in North America and Spain. The company is listed on theLondon Stock Exchange and in the year ending 31 December 2005 turnover increasedby 5% to £3.5 billion. For further information please visit the company's website -www.taylorwoodrow.com For further information please contact: Taylor WoodrowJonathan Drake (Investor Relations) 0121 600 8394 / 07816 517 039Ian Morris (Media Enquiries) 0121 600 8520 / 07816 518 767 Bell PottingerDan de Belder/ Victoria Geoghegan 020 7861 3232 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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