November 13, 2017 / 7:07 AM / a month ago

BRIEF-UK builder Taylor Wimpey says on track for further growth ​

Nov 13 (Reuters) - Taylor Wimpey Plc

* ‍”taylor wimpey has performed strongly during second half of 2017, delivering excellent sales rates and making further good progress against our operational targets.​

* ‍uk housing market has remained positive through second half of 2017.​

* ‍sales rates for year to date have continued to be strong at 0.81 sales per outlet per week (2016 equivalent period: 0.75)​

* ‍for second half of year to date, sales rates are 0.71 (2016 equivalent period: 0.70)​

* ‍cancellation rates for year remain low at 13% (2016 equivalent period: 13%)​

* ‍current total order book, excluding joint ventures, of 8,751 homes, is slightly below last year (2016 equivalent period: 8,981)​

* ‍we expect net cash at end of 2017 to be around £500 million​

* ‍we are on track to deliver fy17 results in line with our expectations, and we expect to achieve further growth and performance improvement in 2018.​

* ‍we remain highly focused on driving improvements in all our operational disciplines and are pleased with continued progress being made with both our customer and product offerings.​

* ‍underlying market conditions remain healthy and we have seen no evidence of a change in trading patterns​

* ‍build costs are expected to increase 3-4% this year, as previously indicated, with greater pressure coming from labour costs and a more modest level of cost inflation in building materials.​ Source text for Eikon: Further company coverage: (London newsroom)

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