Investor and analyst update

RNS Number : 6640M

Taylor Wimpey PLC

25 May 2022

 

25 May 2022

Taylor Wimpey plc

Investor and analyst update

Taylor Wimpey will be hosting an event for institutional investors and analysts in London today with CEO Jennie Daly, Group Finance Director Chris Carney, and further members of the senior management team.

Our presentation will set out the Group's approach to building a stronger and more resilient business which will deliver superior returns for our shareholders. It will provide an overview of our business priorities and Taylor Wimpey's potential to deliver enhanced value through our sector leading landbank and sharper operational focus.

The presentation will provide detail on the Board's strategic focus for Taylor Wimpey which comprises four key cornerstones of value for the business going forward:

1.  Land: optimising value from our owned and controlled landbank and our sector leading strategic land pipeline

2.  Operational excellence: building greater discipline through our business model to improve efficiency, protect value and ensure Taylor Wimpey is fit for the future

3.  Sustainability: continuing to evolve and embed ESG throughout the business for the benefit of all our stakeholders

4.  Capital allocation: reinforcing our clear and disciplined framework that balances investment for future value creation with sustainable annual dividends and excess cash returns for investors as appropriate through the cycle

As part of our commitment to delivering a stronger and more resilient business, we are today confirming our financial targets comprising an:

-  Operating profit* margin of 21-22%; and

-  Return on net operating assets** of 30%

Our dividend and capital allocation policy remains unchanged.

Trading remains in line with trends recently outlined at our Annual General Meeting on 26 April 2022. Guidance for operating margin and outlet-led volume growth is reconfirmed today.

* Operating profit is defined as profit on ordinary activities before net finance costs, exceptional items and tax, after share of results of joint ventures.

** Return on net operating assets (RONOA) is defined as rolling 12-month operating profit divided by the average of the opening and closing net operating assets, which is defined as net assets less net cash, excluding net taxation balances and accrued dividends.

-Ends-

For further information please contact:

Taylor Wimpey plc     Tel: [phone]

Jennie Daly, CEO

Chris Carney, Group Finance Director

Debbie Archibald, Investor Relations

Andrew McGeary, Investor Relations

Finsbury     [e-mail]

Faeth Birch

Anjali Unnikrishnan

James Gray

Notes to editors:

Taylor Wimpey plc is a customer-focused homebuilder operating at a local level from 23 regional businesses across the UK. We also have operations in Spain. Our purpose is to build great homes and create thriving communities.

For further information please visit the Group's website: www.taylorwimpey.co.uk/corporate

Follow us on Twitter @TaylorWimpeyplc

 

END

 

 

UPDQZLFLLELBBBK