The information got here in a buying and selling replace this morning, which additionally highlighted improved working margins final 12 months.
The agency stated: “As market situations modified in tempo within the third quarter, we acted shortly and decisively, implementing even tighter price management, considerably lowering land commitments and carefully controlling the discharge of work-in-progress investments.
“As we give attention to maximizing the effectivity of all our operations, we’ve began a session on numerous proposed modifications which, in the event that they go forward, are anticipated to ship annual financial savings of round £2m, and the prices for his or her realization can be round 8 million kilos.
“This consists of proposed modifications recognized as a part of our ongoing efforts to extend operational effectivity and others that, if carried out, would cut back overhead to mirror market situations.
“The proposed modifications wouldn’t have an effect on both our present market protection or capacity to ship volumes from our land financial institution, or our capacity to supply top quality services and products to our clients.”
Taylor Wimpey added: “Whereas we’ve strengthened our gross sales place throughout 2022 as deliberate, continued market uncertainty signifies that gross sales stay considerably under the degrees seen earlier than the mortgage price hike in Q3 2022.
“Because of this, we enter 2023 with a decrease backlog of personal orders than in recent times and count on general volumes to say no in 2023. We proceed to give attention to gross sales and supporting clients by way of their buying selections.
“Land market costs have but to mirror the altering market setting and with a powerful land place and top quality retailers, we’ll proceed to function on a extremely selective foundation.”
Jennie Daly, CEO, stated: “The enterprise carried out properly in 2022, as our strict operational controls and pricing self-discipline led to an improved working margin. Regardless of the economically and politically by way of the second half, I’m happy that we count on to report working revenue for the complete 12 months as anticipated.
“As beforehand reported, we acted shortly and decisively to handle altering market situations and continued efforts to maximise efficiencies.”