A 10% rise in house selling prices has helped to push turnover at Taylor Wimpey to £1.2bn.
The housebuilder has posted a £1.2bn turnover for the half year to 29 June, compared with £1bn for the same period last year.
Revenue was bolstered by a 10% increase in the average house selling price to £206,000. The group sold 5,766 homes and acquired 4,336 plots during the period.
Pretax profit also increased, to £178.4m from £109m, while net asset value per share rose to 73.6p from 67.2p.
The firm plans to increase the 2015 cash return by £50m to £250m.
Pete Redfern, chief executive of Taylor Wimpey, said: “Our strategy, coupled with the improvements in the UK housing market, has enabled us to significantly improve the quality of our financial performance, whilst delivering sustainable growth of much-needed new homes.”
joanna.bourke@estatesgazette.com
