House builder Taylor Wimpey has strong first half

LONDON, July 7 Mon Jul 7, 2014 2:18am EDT

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LONDON, July 7 (Reuters) - British housebuilder Taylor Wimpey said on Monday it performed strongly in the first half, with sales rates and pricing at the upper end of its expectations.

The company said it expected its operating profit margin to improve to about 16 percent, from 13.1 percent in the same period a year ago, and remained on track to deliver an increase of at least 300 basis points for the year.

Taylor Wimpey said it completed 5,766 homes, an increase of 11 percent, and the average selling price of completions rose to about 206,000 pounds ($350,500) from 188,000 pounds a year ago. ($1 = 0.5877 British Pounds) (Reporting by Paul Sandle, Editing by Li-mei Hoang)

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