How we performed this year

Profit for year (£m)

656.6

2017: 555.3

Customer satisfaction 8-week score 'Would you recommend?' (%)

90

2017: 89
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Net private sales rate per outlet per week

0.80

2017: 0:77
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Employee turnover (%)

14.5

2017: 14.0
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Annual Injury Incidence Rate (per 100,000 employees and contractors)

228

2017: 152
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Total dividend per share (p)

15.28

2017: 13.79
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Our strategy

Our ultimate aim is to become a genuinely customer-centric homebuilder by shifting our focus to our customers' needs and their aspirations for their homes and communities.

Graph illustrating becoming a customer-centric housebuilder

Creating value at every stage

Delivering customer service

Our people

Selecting land

Managing the planning and community engagement process

Getting the homebuilding basics right

Optimising value

Creating value for stakeholders

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Our customers

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Our employees

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Our partners

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Our investors

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Our communities

Group Management Team Q&A

Well positioned for the year ahead

It has been a great year for Taylor Wimpey but there are always challenges and 2019 will be no exception. How is the GMT preparing for the year ahead?

Pete Redfern:

Operationally, safety on site is always our non-negotiable number one priority and continues to be the first item discussed at every Board meeting. We are continuing to embed our customer-centric strategy and our focus in 2019 is on making good progress on the key priorities that underpin our customer-led strategy. This includes ensuring our right first time approach is adopted consistently through all stages of build, supply chain improvements, ongoing people development and resourcing of future capacity, through apprentices and our direct labour programme. We reset our KPIs in 2018 to ensure we are targeting the right areas and these will be measured and reported to GMT through the year.

James Jordan:

With a much improved land and planning backdrop environment aiding our forward planning, there is an opportunity for us to increasingly shape our business around the needs of our customers. This of course involves continuing to listen to what customers are telling us whilst employing technology that can bring tangible benefits. Being able to focus on the areas that really matter to customers also simplifies the business, informing our priorities and guiding our decision making. Customer feedback plays an important role. For example, this has helped us design a new standard house type range which we will launch in 2019.

Jennie Daly:

A great deal of thought and detail has gone into how we will embed our customer-centric approach throughout the business. Our strategy focuses on the five key pillars we have outlined in this report; placing customers and communities at the heart of our strategy; right first time build quality; optimising our strong landbank; becoming the employer of choice; and developing a best in class efficient engine room. To achieve each of these aims we have established a number of new principles and practices that have each been matched with relevant KPIs to help measure our progress.

Chris Carney:

Market conditions can change and it is important that our strategy is dynamic enough to allow for this. The reality is that housebuilding is a cyclical industry that will undergo periods of relative strength and weakness. Whilst we can do little to influence the wider economic backdrop, we have taken steps to ensure we manage the business effectively through the cycle for our stakeholders. This means making decisions in the long term interests of our customers and stakeholders rather than adopting a short term approach. The key elements of managing our business through the cycle are tied into our customer-centric approach.