February 28, 2018 / 7:26 AM / 7 months ago

BRIEF-Taylor Wimpey sees further growth ahead after profits rise​

Feb 28 (Reuters) - Taylor Wimpey Plc:

* FY PRETAX PROFIT FELL 5.8 PERCENT TO 555.3 MILLION STG

* ‍2017 WAS ANOTHER STRONG YEAR FOR TAYLOR WIMPEY AND WE ENTER 2018 IN A GOOD POSITION WITH POSITIVE FORWARD MOMENTUM.​

* ‍WE HAVE BEEN ENCOURAGED BY EARLY TRADING PATTERNS AT START TO YEAR AND DESPITE SOME WIDER MACROECONOMIC UNCERTAINTY, CONSUMER CONFIDENCE REMAINS ROBUST AND MARKET FUNDAMENTALS ARE SOLID.​

* ‍WE ENTER 2018 WITH A STRONG ORDER BOOK AND ARE WELL POSITIONED TO MAKE FURTHER PROGRESS AGAINST OUR MEDIUM TERM TARGETS AND IN DELIVERING LONG TERM VALUE FOR SHAREHOLDERS”.​

* ‍£450.5 MILLION TOTAL DIVIDENDS PAID IN 2017 (2016: £355.9 MILLION), WITH C.£500 MILLION DECLARED FOR 2018 (SUBJECT TO SHAREHOLDER APPROVAL)​

* ‍PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS £M 812.0 UP 10.7 PERCENT​

* ‍ADJUSTED OPERATING PROFIT* IN 2017 WAS £841.2 MILLION AND IS UP 10.1%, DRIVEN BY IMPROVED PERFORMANCE IN BOTH UK AND SPANISH BUSINESSES.​

* ‍WHILST WE HAVE SEEN NO ADVERSE IMPACT ON TRADING, WE ARE CONSCIOUS OF WIDER POLITICAL AND ECONOMIC RISKS.​ Source text for Eikon: Further company coverage: (London newsroom)

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