The group, which sells homes under the brands George Wimpey, Bryant Homes, G2, Wilson Connolly and Laing Homes, saw pre-tax profits in the UK rise 14 per cent to £608.5 million for 2007.
This came as the firm delivered improved margins to offset a 6 per cent fall in the number of completions in the UK last year to 20,690. Average selling prices nudged up to £188,000 from £186,000.
Poor conditions in the US - which accounts for nearly a fifth of total sales - and Spain saw the group take a near £300 million write off on land and property in the countries.
Taylor made an overall pre-tax loss of £19.5 million for 2007,compared to profits of £409.5 million the year before.
Chief executive Pete Redfern said he continued to anticipate a "more difficult" trading environment in the UK this year, with no "significant" improvement expected in the US either.