Taylor Wimpey cuts dividend and lowers home‑completion outlook as UK housing market weakens

Taylor Wimpey plc reported first‑half revenue of £1.68 billion, a 1.7% rise, but adjusted operating profit fell 19.4% to £129.7 million, with margins slipping to 7.7% from 9.7% a year earlier. The builder announced a revision to its dividend policy, reducing the annual shareholder distribution to 4% of net assets, and guided full‑year completions to the lower half of its previous range, now expecting 10,600‑10,800 homes. Average selling prices rose 6.7% to £334,000, yet net cash halved to £168.6 million and is projected to end the year near £250 million after cladding‑related outflows. The market reacted with a roughly 5% drop in the shares. The moves reflect continued affordability pressure and a slowdown in private sales across the UK housing sector.