Taylor Wimpey has adopted a cautious outlook in view of current events that may impact demand.
Chief executive Jennie Daly said she and her team were keeping an eye on “recent geopolitical events”. The jump in energy prices could increase build costs and lead to fewer interest rate cuts.
Cladding fire safety provisions and competition commitments contributed to a plunge in profits.
Despite revenue rising 13% to £3.84 billion, pre-tax profit fell 54.3% to £146.5 million. Adjusted operating profit rose slightly to £420.6m and it expects this to fall to £400m for 2026.
Completions increased by 6% to 11,229 homes, but anticipates 2026 completions to be between 10,600 and 11,000
The board proposed a final dividend of 2.95p per share and a £52.3m share buyback through an arrangement with Citigroup Global Markets.
Shares closed down 1.35p (1.32%) at 100.55p.
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