Delivering Merger Benefits

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One Group
uniquely positioned

Photo: Chairman, Norman Askew and Group Chief Executive, Pete Redfern

Signature: Chairman, Norman Askew

Norman Askew
Chairman

Signature: Group Chief Executive, Pete Redfern

Pete Redfern
Group Chief Executive


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.

Land and
planning

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.

Build cost
efficiency

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.

Sales and
customer care

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.

Synergy
benefits

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.