Taylor Wimpey has reported a pre-tax loss of £92million for the first half of the year after being hit with an additional £222million in cladding safety costs.
The developer has warned that, where appropriate, it will pursue claims against those responsible for “poor design, workmanship, or material failures”.
For the six months to 29 June 2025, the firm saw its turnover increase by 9% year-on-year to £1.7billion.
Taylor Wimpey said that the provision includes £145million in new costs to address cavity barriers behind brickwork and render which were not found in earlier non-intrusive assessments.
A further £39.5million is needed to address additional cladding remediation work, while £38million will be used for site-specific cost increases such as professional fees and contingencies. The fresh costs have taken the total figure up to £435million.
During the period, the Group saw an 11% increase in completions, including through joint ventures, to 5,264 homes, up from 4,728 in H1 2024. Taylor Wimpey remains confident that it will complete between 10,400 and 10,800 homes for the full year, excluding joint ventures.
The housebuilder’s net private sales rate increased to 0.79 per outlet per week from 0.75, although its total order book has fallen slightly year-on-year to 7,269 from 7,451. Its average selling price also decreased by 1.3% to £313,000, as did the average number of outlets it operated from, falling from 224 last year to 206.
Jennie Daly, chief executive of Taylor Wimpey, commented: “We delivered a good underlying performance in the first half of 2025 in line with our expectations, notwithstanding softer market conditions in the second quarter. Our sales teams have continued to work hard to support customers through their buying journeys, supported by the high quality of our sites and locations, and it was pleasing to see significant improvements in our longer-term customer satisfaction scores.”
“While affordability remains constrained, particularly amongst first-time buyers, lenders remain committed to the UK mortgage market and long-term fundamentals are positive, with significant unmet need for UK housing.”
“The safety of our customers remains our highest priority – this principle has consistently guided our approach, and we have increased our cladding fire safety provision to reflect findings from updated fire risk assessments and investigations in the first half.”
“We reiterate our guidance for full year UK completions of between 10,400 and 10,800, with Group operating profit for 2025 now expected to be c.£424million, impacted by a one-off charge, unchanged on an underlying basis.”
“Taylor Wimpey is a strong and agile business benefiting from a robust balance sheet and excellent landbank, and is well positioned to deliver growth and attractive returns for shareholders.”
