Taywood upbeat about 2006 results

Taylor Woodrow posted a mostly positive trading update this morning.

In the UK, Taywood's housing arm is expected to achieve "modest growth" in completions in the full year to the end of 2006, with average selling prices per square foot higher than those in the first half. Net reservations per site per week are ahead of last year and cancellations are lower.

In the US, the picture is not as bright: "With the exception of Canada, Texas and parts of Florida, our North American markets remain challenging and difficult to predict, mainly due to industry levels of stock overhang," according to the statement.

The construction division remains "in line with our expectations".

Meanwhile, Taywood has been given the go-ahead on the design and build deal to construct the Harefield Academy in Hillingdon. Completion of the £21.9m project is due in April 2008.