Overview

• Taylor Wimpey's profits fell by nearly 50% in 2023, with revenues dropping over a fifth to £3.5 billion.
• Despite the downturn, the company observed early signs of recovery, including improved customer confidence and lower mortgage rates.
• The firm plans to build between 9,500 and 10,000 homes in 2024, down from previous years, but anticipates growth from 2025.
• An ongoing investigation by the Competition and Markets Authority into alleged data-sharing among housebuilders includes Taylor Wimpey.
• Shares of Taylor Wimpey dropped by over 3% following the announcement, reflecting market concerns over the company's short-term outlook.