Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Taywood building profits fall


PROFITS at Taylor Woodrow's construction division dropped by half last year due to fewer PFI disposals.

The division occupies a niche role at Taywood working for its house building and development arms plus a handful of blue-chip clients.

Taylor Wood row said that revenue from PFI sales had dropped by 50 per cent, meaning operating profits from the £500 million turnover division fell £9 million to £8.8 million.

It said it had lifted average house sale prices across the group by 3 per cent to £204,000. A strong performance in the USA helped move operating margins at housing to 15.9 per cent.

UK housing was affected by a downturn in customer confidence, which cut completions by 875 and operating profits by 20 per cent to £233 million.

Overall group pre-tax profit nudged up 2 per cent to £411 million while turnover went up 5 per cent to £3.5 billion.