LONDON: Taylor Wimpey offered some rare cheer in the housebuilding sector yesterday by revealing that it expected full-year profits at the upper end of expectations.
It was one of the biggest climbers in the FTSE 250 yesterday. The company said its position had been helped by stable trading and it has agreed terms for a new £950m bank loan.
Taylor Wimpey said: "In the UK, we anticipate that trading will continue to be subdued for the remainder of this year due to the continuing impact of constrained mortgage lending and ongoing wider economic uncertainty."
"We look forward to 2011 with a healthy order book and our focus remains on driving further margin improvement through cost reductions and prioritising profit over volumes."
