(TW-.L) Taylor Wimpey PLC Buy/Sell

RNS Number : 2062C Taylor Wimpey PLC 09 November 2009

Annex DTR3

Notification of Transactions of Directors/Persons Discharging Managerial Responsibility and Connected Persons

All relevant boxes should be completed in block capital letters.

1. Name of the issuer 2. State whether the
notification relates
to (i) a
transaction notified
in accordance with
TAYLOR WIMPEY PLC DTR 3.1.2 R,
(ii) a disclosure
made in accordance
LR 9.8.6R(1) or
(iii) a disclosure
made in accordance
with section 793 of
the Companies Act
(2006).

DTR3.1.2R
3. Name of person 4. State whether
discharging notification relates
managerial to a person
responsibilities/ connected with a
director person discharging
managerial
responsibilities/
CHRISTOPHER RICKARD director named in 3
(DIRECTOR) and identify the
connected person

5. Indicate whether the 6. Description of
notification is in shares (including
respect of a holding class), debentures
of the person or derivatives or
referred to in 3 or financial
4 above or in instruments relating
respect of a non to shares
beneficial
interest 1

7. Name of registered 8. State the nature of
shareholders(s) and, the transaction
if more than one,
the number of shares
held by each of them SHARES ACQUIRED

CHRISTOPHER RICKARD: COMPANY'S SHARE

("SIP") AND THE FREE

72,978 SHARES AWARD OF AN

3,144 SHARES
JAMES JORDAN:

15,376 SHARES

11,346 SHARES
9. Number of shares, 10. Percentage of issued
debentures or class acquired
financial (treasury shares of
instruments relating that class should
to shares acquired not be taken into
account when
calculating
CHRISTOPHER RICKARD percentage)

AT 41.6 PENCE EACH
AND 301 SHARES 0.00002%

41.6 PENCE EACH AND 0.00002%

11. Number of shares, 12. Percentage of issued
debentures or class disposed
financial (treasury shares of
instruments relating that class should
to shares disposed not be taken into
account when
calculating
N/A percentage)

13. Price per share or 14. Date and place of
value of transaction transaction
41.6p 9TH NOVEMBER 2009
15. Total holding 16. Date issuer informed
following of transaction
notification and
total percentage
holding following
notification (any
treasury shares
should not be taken
into account when 9TH NOVEMBER 2009
calculating
percentage)

76,724

27,322

If a person discharging managerial responsibilities has been granted options by the issuer

complete the following boxes

17. Date of grant 18. Period during which or
date on which exercisable
19. Total amount paid 20. Description of shares or
(if any) for grant debentures involved
of the option (class and number)
21. Exercise price (if 22. Total number of shares or
fixed at time of debentures over which
grant) or options held following
indication that notification
price is to be fixed
at the time of
exercise
23. Any additional 24. Name of contact and
information telephone number for
queries

Name of authorised official of issuer responsible for making notification

JAMES JORDAN (GROUP SECRETARY & GROUP GENERAL COUNSEL)

Date of notification 9TH NOVEMBER 2009

Notes: This form is intended for use by an issuer to make a RIS notification required by DR 3.3.

(1) An issuer making a notification in respect of a transaction relating to
the shares or debentures of the issuer should complete boxes 1 to 16, 23
and 24.

(2) An issuer making a notification in respect of a derivative relating the
shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23
and 24.

(3) An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete
boxes 1 to 3 and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should
complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

This information is provided by RNS The company news service from the London Stock Exchange

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By Mark Potter and James Davey

LONDON, Nov 4 (Reuters) - Britons' confidence about economic recovery appears to be building, though companies remain wary and are still relying heavily on cost cutting to boost profits.
Clothing retailers Marks & Spencer and Next beat profit and sales forecasts respectively on Wednesday, while builders Taylor Wimpey and Redrow highlighted a pick up in the housing market, lifting shares in all four firms.
But the companies also said their performance was flattered by extremely weak trading in the same time last year following the collapse of U.S. bank Lehman Brothers, and were worried about taxes rising next year to address rising government debt.
"What we can say with some certainty is that the consumer is not in freefall and we're seeing stability, if somewhat subdued stability, in consumer spending," Next Chief Executive Simon Wolfson told Reuters.
"(But) no one quite knows what the effect of increased taxation is going to be next year."
Hopes of quick economy recovery in Britain were dealt a blow last month when official data showed an unexpected drop in activity in the third quarter, making the current recession the longest ever.
The Nationwide consumer confidence index showed on Wednesday that consumer morale hit its highest level in the last two months since April 2008. But that survey was taken before the third-quarter growth data.
"I think we've been through the worst of the downturn," Marks & Spencer (M&S) Chairman Stuart Rose told reporters.
But consumer confidence was "fragile" and competition between companies was likely to be intense heading into the key Christmas trading period, he said.
The British Retail Consortium said shop prices were flat in October compared with a year ago, with food prices up 2.5 percent and non-food prices down 1.3 percent, falling for an eleventh month in a row.
"Retailers continue to feel the need to price competitively to get reluctant consumers to part with their money," said IHS Global Insight economist Howard Archer.

M&S, which trades from over 650 stores in Britain and about 300 abroad, said profit before tax and one-off items was flat at 298 million pounds ($491 million) in the six months to Sept. 26.
That beat analysts' average forecast as tight control of costs and stocks offset price cuts and weak demand.
The 125-year-old group also said it planned to sell a selected range of around 400 branded grocery and household products, like Marmite and Kellogg's cereals, after a successful trial.
M&S shares jumped as much as 8.5 percent to a 5-week high of 369.9 pence as analysts lifted full-year forecasts.
"We have had a good start to the third quarter. However, the market remains competitive and, as we come up against volatile trading conditions last year, we remain cautious about the outlook for Christmas and the year ahead," Rose said.
Fashion and homewares group Next posted a 1.3 percent fall in third-quarter sales at stores open at least a year, beating forecasts, and raised its sales and profit guidance for its full financial year.
Its shares jumped 5 percent to 1,900 pence.
A trading update from pubs group JD Wetherspoon underscored the importance of low prices to attract consumers.
It bucked an industry trend for falling sales with a 0.3 percent rise in outlets open at least a year in the 13 weeks to Oct. 25.
Housebuilders Taylor Wimpey and Redrow both reported an improving housing market, sending their shares up as much as 11 and 6 percent respectively.

($1=.6071 Pound) (Additional reporting by Matt Scuffham and Lorraine Turner in London and Tresa Sherin Morera in Bangalore; editing by Simon Jessop and Hans Peters) Keywords: BRITAIN CONSUMER/ (mark.r.potter@thomsonreuters.com; +44 20 7542-2943; Reuters Messaging: mark.potter.reuters.com@reuters.net)

COPYRIGHT

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RNS Number : 9063B
  Taylor Wimpey PLC
  04 November 2009
   

4 November 2009

Taylor Wimpey plc

Interim Management Statement

This Interim Management Statement covers the period from 1 July 2009 to 4 November 2009.

UK Housing

UK housing market conditions continue to be significantly better than the equivalent period of 2008. The main house price indices are showing increases over recent months, with a gradual improvement in mortgage availability and a recent increase in industry housing starts also contributing to positive sentiment.

Our own performance has remained encouraging since the half year.  We did not experience the usual industry seasonal slowdown over the summer and sales rates have remained solid into the autumn.  We are now fully sold for 2009 and our sales focus remains on achieving price increases as we build our 2010 order book.  Our net private reservation rate for the second half to date is 0.56 homes per site per week (H1 2009: 0.65, H2 2008: 0.40).  These reservation rates include the effect of cancellations, which remain low at 16% for the second half to date (H1 2009: 19%, H2 2008: 46%).  

The average selling price for private homes in the order book is currently c9% higher than the £163k achieved on private completions during the first half.  This is a result of planned improvements in our mix towards housing rather than apartments, as well as price increases achieved over the last three months. As indicated at our half year results, we expect to deliver a higher average selling price on private completions in the second half than that achieved in the first half. The total order book value is £1.00 billion (week 43 2008: £1.06 billion).

In response to the improved market conditions, we have steadily increased our build rates and we continue to open new outlets where we have maximised the benefits of revised planning consents and cost reductions.  We have opened 22 outlets in the second half to date and now have 317 active outlets, with further openings planned for the balance of the year.

Having started to brand new outlets as Taylor Wimpey in July, the roll out of the brand to existing outlets is underway. A wide range of prototypes for our new house type range are under construction and these house types will be available to buy from early 2010. This range will enable us to achieve further operational efficiencies and has been designed to allow future regulatory requirements, relating mainly to sustainability initiatives, to be met at the lowest possible additional cost.

We have also made good progress in reducing build costs.  Regular benchmarking exercises across our business have identified considerable opportunities for reductions in the cost of building our homes on current sites, with no compromise on quality.  There are also opportunities to reduce the costs associated with infrastructure and other development costs. The enhancement to profits arising from these actions will accelerate as we open new outlets for future completions.

Transaction volumes in the land market continue to be well below normal levels and we remain cautious on large scale land purchases.  However, we have approved new land purchase commitments for 1,011 plots at 8 new sites since the half year, all of which have been on very favourable terms.  With a strong consented landbank and ongoing opportunities to bring plots through from our strategic landbank, we will continue to be highly selective with regard to open market land transactions.

The continuation of improved market conditions into the autumn selling season has been reassuring, although sustaining the current recovery will be dependent on improvements in mortgage availability and the wider economy. Our operational focus remains on build cost reduction and achieving sales price increases as we build our order book for 2010.

North America Housing

The US housing market has shown continued stability in the second half to date, giving cause for cautious optimism.  Although foreclosures remain an issue, they have not had an incremental negative effect in recent months. The number of months of supply of both new and existing homes are reducing and affordability levels in many markets are very good.  In Canada, the more stable economic climate has been reflected in a more robust housing market and our business continues to perform well.

We have 153 active outlets in North America (30 June 2009: 168).  Sales rates net of cancellations have remained consistent with the first half of the year, averaging 0.6 sales per site per week (H1 2009: 0.6, H2 2008: 0.3). Cancellation rates remain encouragingly low at c17% in the second half to date (H1 2009: 18%, H2 2008: 27%).

Taking into account completions already achieved, our order book for the remainder of 2009 is in line to deliver our expectations for full year completions. Pricing has remained broadly flat against the first half average of US$275k.  Our current order book stands at US$0.95 billion (week 43 2008: US$1.21 billion).

We have already achieved significant reductions in both build and overhead costs and inventory levels remain under tight control.  Our focus in North America is on ensuring that our landbank is well positioned to benefit from recovery.  To this end, we have traded out of some of our existing holdings and have acquired land selectively in high quality locations totalling 2,240 plots in the second half to date.  

Whilst we continue to expect geographical variations in the timing and profile of recovery, we have experienced an encouraging period of prolonged stability in our North American markets.  With affordability at extremely good levels there is the potential for significant price rises once economic conditions fully stabilise.

Spain & Gibraltar Housing

Our business in Spain is performing well in challenging market conditions and our plans to exit from our small business in Gibraltar remain on course.

Group

Net debt currently stands at c£860 million, a significant reduction against the £1.87 billion at the same point last year. We now expect year end net debt to be below £800 million despite our decision to accelerate significant cash commitments forward from early 2010. This represents an improvement of £100 million against previous guidance.

As indicated at the half year, in the absence of a further material adverse change in our main markets, we would not anticipate further reductions in the carrying value of our landbank.

The Group remains well positioned for market recovery, with a strong landbank and efficient operations in both the UK and North America.  Cash generation remains a focus for the Group, but our primary focus is on returning to normal levels of profitability as quickly as market conditions allow.

Taylor Wimpey is holding a site visit for analysts and investors later today, where current trading and UK operational strategy will be discussed. Slides from the presentations given will be published on our website (www.taylorwimpeyplc.com).

-ends-

For further information please contact:

Taylor Wimpey plc                                                Tel: +44 (0)7816 517 039

Pete Redfern, Group Chief Executive

Chris Rickard, Group Finance Director

Jonathan Drake, Investor Relations

Finsbury                                                                Tel: +44 (0)20 7251 3801

Faeth Birch

Clare Hunt

Notes to editors:

Taylor Wimpey plc builds homes in the UK, North America, Spain and Gibraltar. It aims to be the homebuilder of choice for customers, employees, shareholders and communities.

For further information please visit the Group's website:

www.taylorwimpeyplc.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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RNS Number : 7763B Taylor Wimpey PLC 02 November 2009

Taylor Wimpey plc

Taylor Wimpey Employee Share Ownership Trusts

Share Transfers

Taylor Wimpey plc ("the Company") has been notified by the Trustees of the Company's various employee share trusts that following the transfer of shares to meet entitlements under:

The exercise of options over 1p ordinary shares of the Company ("Shares");

The vesting of conditional awards over Shares pursuant to the Company's Deferred Bonus Plan;

The one for one Matching of employees' purchases of Shares pursuant to the Company's Share Purchase Plan;

The current holding of the Company's employee share trusts is:

Taylor Wimpey Employee Benefit Trust 3,805,799 Shares
Wilson Connolly Employee Benefit Trust 57,281 Shares (Wilson Connolly is a wholly-owned subsidiary of the Company, acquired in 2003)

These Shares will be used to meet the valid exercise or vesting of options or awards over Shares granted under the terms of the Company's various share plans.

Each of the executive directors of the Company is a potential beneficiary under both Trusts and therefore is regarded as having a notional interest in the current holdings of each Trust.

James Jordan

Group Company Secretary

Taylor Wimpey plc

2 November 2009

This information is provided by RNS The company news service from the London Stock Exchange

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