LONDON (dpa-AFX) - Taylor Wimpey plc (TW.L), a UK-based residential property developer, on Wednesday lowered its 2026 home completion forecast and said adjusted operating profit is now expected to be around the lower end of the consensus range, citing subdued market conditions.
Chief Executive Jennie Daly said, 'The Autumn selling season has been more subdued, as higher mortgage rates and living costs continue to reduce customer affordability.'
The company expects full-year adjusted operating profit, including joint ventures and excluding exceptional items, to be around the lower end of the company-compiled consensus range of £262 million to £299 million.
Taylor Wimpey now expects UK home completions, excluding joint ventures, to be around 10,500 homes, down from its previous forecast of 10,600 to 10,800 homes.
The company's order book, excluding joint ventures, stood at 6,839 homes as of November 8, compared with 7,253 homes a year earlier. Its value declined to approximately £1.984 billion from £2.116 billion.
On the LSE, Taylor Wimpey shares closed down 0.63% at 82.40p on Tuesday.
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