Norman Askew
Chairman
Pete Redfern
Group Chief Executive
Delivering Merger Benefits
Page turn
One Group
uniquely positioned
Welcome to the first Annual Report of Taylor Wimpey plc.
Following our successful merger and rapid integration to create the new Taylor Wimpey Group, we are well placed to deliver business improvement. This improvement will be made through our land and planning strategy, build cost efficiency, improved sales and customer care and the delivery of significant synergy benefits.
Over the next nine pages we will give
you a clear overview of how we plan to
move forward in these key areas and
demonstrate that the combined
strengths of the new business put
Taylor Wimpey in an excellent position
for the future.
The merger delivered a better balance to our landbanks in both the UK and North America. This provides the opportunity to add value through planning and development and a more stable base for the future.
As the UK's largest homebuilder and with increased scale in North America, Taylor Wimpey has significant opportunities for both procurement efficiencies and design and engineering savings.
Our enlarged business gives a greater ability to manage sales rates in order to maximise margin performance. We continue to strive to deliver high quality homes and excellent levels of customer service.
We are committed to delivering synergy exit rates of £70m by the end of 2008 and £100m by the end of 2009. One-off merger related restructuring costs of £60m have been charged in 2007.