FTSE 100 construction company Taylor Wimpey has signaled its desire to return to business as usual, announcing a gradual return to normal construction operations with healthy activity in some areas.
The company announced that all of its employees have returned from furlough and the majority of its English and Welsh sites have resumed normal construction operations. It added that its sites in Scotland are preparing to resume construction in line with guidance from the Scottish Government.
The company also said that in the UK, the “vast majority” of its showhouses and sales centers are open by appointment only, and that it is experiencing “very high levels” of demand by appointment.
Regarding its track record, Taylor Wimpey said it was “active” in the land market and had initiated transactions on a number of sites. He added that the company’s orders remain strong, with bookings increasing steadily in recent weeks.
Finally, the company said there was a “good” level of interest in the 5% discount scheme for NHS and care workers, which it launched in recognition of the contribution of healthcare workers to the fight against coronavirus, as well as new jobs. We reported on our efforts to address these issues. Ensure the health and safety of our employees.
Taylor Wimpey comments
Regarding the safety of construction activities, the company’s statement further expanded:
“We are currently resuming construction on the majority of our sites in England and Wales. Our top priority is the health and safety of our customers, employees, subcontractors and the wider community, and our team We are very proud that our new site protocols have been successfully implemented and the new Taylor Wimpey has adapted to a new way of working. Our COVID-19 Code of Conduct continues to receive strong support from employees and contractors. These measures include detailed signage, graduated sign-in times, and strict social distancing protocols. , welfare facility renovations and additional customized Taylor Wimpey PPE.”
Once the staff returned to work, the group continued:
“All of our employees have been back to work since early June and none of our employees are on furlough, including those who are protecting themselves or protecting vulnerable people. Many people are still working from home. Our policy remains that we will not ask anyone to physically return to work if we believe it is not safe to do so. Our offices are closed to all but essential visits, and our office-based employees and many sales executives continue to work remotely from home. We communicate regularly with our employees through a variety of channels. We are continuing to communicate and are pleased that engagement remains at such a high level.”
Investor Insights
Following Wednesday’s update, the company’s share price fell slightly by 1.70% (2.70 pence) to 156.30 pence per share as of 16:35 GMT on 6 October 2020. Taylor Wimpey has a P/E ratio of 7.83 and an impressive dividend yield of 4.89%.
