Taylor Wimpey PLC

Taylor Wimpey has reduced its total annual shareholder return policy from 7.5% to 4% of net assets, reflecting a prolonged housing market downturn and increased uncertainty. Group revenue rose to GBP1.68 billion, supported by higher average selling prices and land sales, but adjusted operating profit fell to GBP130 million from GBP161 million a year earlier, with gross margin down 200 basis points to 15.1%. UK completions excluding joint ventures declined 3.5% to 4,723, while the net private sales rate slipped 5% to 0.75 per outlet per week. Build cost inflation is expected to rise to 3% to 4% for the full year, and underlying pricing remains about 2% below prior-year levels. The company ended the half with net cash of GBP169 million and expects that to improve to around GBP250 million by year-end.

Major UK housebuilders are facing a class action lawsuit potentially worth more than £4 billion, filed on behalf of over 700,000 buyers of new-build homes between October 2015 and June 2026. The claim accuses Barratt Redrow, Taylor Wimpey, Bellway, Berkeley Group, Persimmon, Vistry Group, and Countryside Partnerships of sharing sensitive information on prices, buyer incentives, and sales activity, which allegedly weakened competition and drove up new-build home prices. Compensation is estimated at between £2.2 billion and £4.5 billion, equivalent to £3,100 to £6,200 per affected homeowner. The lawsuit, managed by consumer rights advocate Mark McLaren, requires approval from the Competition Appeal Tribunal before it can proceed. It follows a Competition and Markets Authority investigation that resulted in a record £100 million settlement and commitments to stop sharing sensitive pricing information.