(Reuters) -UK homebuilder Taylor Wimpey cut its annual operating profit forecast on Wednesday citing a one-off 20 million pound ($26.69 million) charge stemming from remediation works at one of its
Taylor Wimpey Lowers Annual Profit Forecast Due to One-Off Charge
Impact of One-Off Charges on Profit Forecast
(Reuters) -UK homebuilder Taylor Wimpey cut its annual operating profit forecast on Wednesday citing a one-off 20 million pound ($26.69 million) charge stemming from remediation works at one of its London developments.
Details of the One-Off Charge
The original contractor, responsible for the defective work, ceased operations due to financial difficulties, the company said.
Revised Profit Expectations
The firm now expects operating profit for 2025 to be 424 million pounds, compared to a prior forecast of 444 million pounds.
UK Completions Guidance
However, it reiterated expectations of UK completions guidance range of 10,400 to 10,800 for the full year.
($1 = 0.7494 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Sumana Nandy)
