TWOD Taylor Woodrow

RNS No 5144a
TAYLOR WOODROW PLC
5th June 1998


Taylor Woodrow Chairman remains in optimistic mood 

At Taylor Woodrow plc's Annual General Meeting today (5 June),
Group Chairman and Chief Executive, Colin Parsons signalled his
continuing confidence about prospects for the international
housing, property and construction Group. 

Commenting at the AGM, he said, 'At the time of our preliminary
results in March I indicated that we were looking at 1998 with
some optimism. I am pleased to report that my view has not
changed since then.'

HOUSING 

'In the UK, whilst some of the heat has come out of the housing
market particularly in the South of England we are still seeing
significant purchaser interest across the country. Overall price
movements are still positive in our regions. The Central London
market remains positive with a great deal of interest from UK
buyers in our high quality schemes. 

'Operations in the USA and Canada continue to prosper with
strong forward order books in both countries. Sales are
progressing very strongly in California and Florida this year.
In Florida the forward order book is around 80% ahead of the
same time last year and in California by the end of April we had
already achieved 70% of our budgeted sales for the year.

'Monarch Development Corporation, our publicly quoted Canadian
subsidiary, is expanding rapidly and is set for another positive
trading year. In Australia, the market turnaround that we
signalled earlier this year has continued with sales volume
picking up.'
 
PROPERTY

'The property market continues to be as strong as it was in 1997
with rents and values continuing to increase, but without the
speculative excesses of the 1980s. With 17 development schemes
in progress at the moment, we expect a good performance from
development activities as we go forward.'

CONSTRUCTION 
 
'With a number of new opportunities on the horizon, prospects
for construction operations in 1998 look more promising than in
recent years. The business, however, remains intensely
competitive. The construction order book at the end of April was
#874 million slightly up on the year-end total and nearly #100
million higher than in April 1997'

GREENHAM TRADING 

'Greenham is continuing its expansion programme and looking at
both bolt-on acquisitions and further organic growth.'

SUMMARY

'We continue to see significant opportunities for growth across
the Group. The strength of the Group through its diversity
continues to deliver strong profits growth and we are in very
good shape as we head towards the Millennium. The markets we
operate in are generally positive and we are looking forward to
the remainder of this year with confidence.'

Media enquiries:
Taylor Woodrow      Matthew Moth/Tom MacQuillan 
Tel:                0181 575 4175/4155
Mobiles:            0836 598522 or 0467 790849

Grandfield          Charles Cook/Michael Henman 
Tel:                0171 417 4170
 
Analyst enquiries:  David Green 
                    0171 629 1201


END

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