RNS No 6948r
TAYLOR WOODROW PLC
11 June 1999


Taylor Woodrow chief executive looks forward with confidence 
   
At Taylor Woodrow plc's Annual General Meeting today (11 June), Group chief
executive, Keith Egerton signalled his continuing confidence about prospects
for the international housing and property Group. 

Commenting at the AGM, he said, 'As I indicated at our preliminary results
presentation in March, in terms of overall strategy, the bulk of our profit
growth will come from our expanding international housing and property
activities.

'We commented then that trading conditions in all our housing markets had
started the year very positively and our view has not changed since then.

'We have continued to see extremely strong markets for housing in the US which
puts us well on track for another very good performance from this region. In
Canada, Monarch is expecting in excess of 350 high rise completions. Our UK
housing operation Taywood Homes is also making good progress in improving its
profitability and margins.

'We are also on track to double the size of the UK housing business in the
next five years. The recent announcement of the creation of a new regional
division bodes well, as does the positive reaction that we have received for
our new 'upper end' retirement home business, Lifestyle.

'Our central London residential operation has enjoyed strong purchaser
activity for all its schemes. Drury Lane, one of our newer developments is
already 50% pre-sold, despite the fact that the building, which has only
started construction, is not expected to be completed until the middle of next
year.

'As we indicated at our preliminary results we will have difficulty in
increasing profitability over the first half of 1998, due to the timing of
completions of apartments in both central London and Toronto. 

'Property markets this year have seen a firmer trend with the office, retail
and industrial sectors all improving. We are well placed to benefit from this
improvement with 17 development schemes underway in the UK at the moment.
Well-located and well-specified schemes are in particular demand often with
limited competition. In addition Monarch's predominately pre-let developments
are making good progress in Canada. 

'The process to make the Construction business a more risk averse part of the
Group, which I outlined as part of our strategy for the Group in March, is now
underway. We recently announced greater focus in the division which will
regrettably result in the reduction of its team by 250 by the end of this
year. 

'This reduction is a necessary consequence of reducing our exposure to those
construction projects where the rewards do not match the risks. I believe that
with this increased focus there will be a much brighter future within Taylor
Woodrow for the construction division. 

There is no doubt that a more focused construction business can fit very
comfortably with housing and property, especially when helping, as part of its
role to build projects that these activities generate.

Greenham Trading is facing the challenge of the shortage of public works and
major infrastructure projects in the UK

'In conclusion, we are confident of another good year for the Group and are
looking forward to the remainder of this year with confidence.'



Media enquiries:
Taylor Woodrow      Tom MacQuillan/Caroline Wynn 
Tel:                0181 575 4175/4033
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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