Taylor Wimpey PLC (OTCPK:TWODY)

$ 18.1725 -0.3725 (-2.01%) Market Cap: 6.43 Bil Enterprise Value: 5.62 Bil PE Ratio: 14.53 PB Ratio: 1.11 GF Score: 73/100

Half Year 2023 Taylor Wimpey PLC Earnings Call Transcript

Aug 02, 2023 / 07:30AM GMT

Release Date Price: $14.8 (+1.72%)

Transcript

Jennifer Daly

Taylor Wimpey plc - CEO & Executive Director

So good morning. It's good to see you all here today. I know it's a busy reporting day. So thank you very much for calling in a little early. I think you'll recognize our agenda. I'll make a few comments and highlights on the first half. Chris will then take you through the detailed financials, and then I'll update you on how we're seeing the market, which I know will be a focus for you all. And importantly, how we're driving performance through the detailed financials, and then I'll update you on how we're driving performance in today's environment.

So there are 4 key things I would like to draw to your attention this morning. First, completions are slightly ahead of expectations in the first half at 5,120 despite the mixed market and the challenges, of course, of rising interest rates for our customers. Second, we've delivered a strong operational performance, driving best-in-class execution and tight cost discipline. Our sales rate of 0.71 compares well to the market, business-driven, I believe, by our quality site locations and

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