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Taylor Wimpey PLC said Wednesday that it is on track to meet the board’s expectations for the year, and it reiterated its plan to return 610 million pounds ($782.6 million) via dividends to shareholders in 2020.
The U.K.-focused house builder TW, -0.65% , which also has operations in Spain, said that its total order book, excluding joint ventures, stood at 10,433 homes at Nov. 10 compared with 9,843 for the same time last year. This is worth GBP2.7 billion compared with GBP2.4 billion a year earlier.
Taylor Wimpey said that full-year results are on track to meet expectations although volumes will be slightly higher and operating margins slightly lower than previously guided.
The company said in July that the board expected full-year volumes to be slightly higher than 2018 as it benefits from the focus on large sites. It has also said that 2019 margins would be lower than in 2018. In 2018, the company completed 15,275 home sales including joint ventures, and had an adjusted operating profit margin of 21.6%.
