for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Taylor Wimpey expects to top 2021 profit view on housing market recovery

Nov 9 (Reuters) - Taylor Wimpey is set to deliver current annual results towards the upper end of expectations, while it expects 2021 profit to exceed the current consensus as the housing market recovered quicker than expected from a coronavirus-led slump.

“The quick recovery of the housing market in the second half of this year, ahead of expectations, is evidence of the underlying strength of demand and the importance of low interest rates and stable mortgage lending,” the company said on Monday.

Shares of the company were trading 10% higher. (Reporting by Shanima A in Bengaluru; Editing by Ramakrishnan M.)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up