July 29, 2020 / 6:26 AM / 16 days ago

UK's Taylor Wimpey predicts 40% drop in home completions this year

July 29 (Reuters) - British homebuilder Taylor Wimpey Plc said it expects to complete around 40% fewer homes in 2020 as it reported a first-half loss on Wednesday because of pandemic-driven site closures.

The country’s third-largest homebuilder, which has operations across the UK and Spain, reported pretax loss of 39.8 million pounds ($51.44 million) for the six months ended June 30 compared with a profit of 299.8 million pounds last year. ($1 = 0.7737 pounds) (Reporting by Samantha Machado in Bengaluru; Editing by Saumyadeb Chakrabarty)

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