Taylor Wimpey reports 16% leap in profit for first half

Jennie Daly

Housebuilder Taylor Wimpey hiked profit forecasts to the top of full year estimates after a strong first half in which it beat housing completion targets.

The FTSE-100 developer reported pre-tax profits for the first six months of its financial year were up 16.3% on last year to £334.5m, despite a 5% dip in revenues, as it slashed costs and widened margins.

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