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Business News

Huge rise in profits at Taylor Wimpey

The UK's biggest housebuilder, Taylor Wimpey, capped a week of stellar results from the industry as it unveiled a 106 per cent rise in pre-tax profits to £185.3m for 2012 yesterday.

Wimpey, which nearly went bust in 2009, sold 10,886 homes last year and halved its debt pile to £59m. The company is "cautiously optimistic" for this year as sales improve in the South and Midlands.

Its shares added 2.55p to 83.65p.