Edison Investment Research - Hoping for the best, prepared for the worst

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Edison Investment Research

Hoping for the best, prepared for the worst

Taylor Wimpey’s (TW) trading update on 11 January emphasised the great strengths management has achieved in recent years and some of its fears: the land bank, the net cash, forward sales and the highly robust balance sheet, along with great operational capability, are all driving high margins and ROCE, but the near-death experience of 2007-10 taught the company that house building is cyclical so the structure is built around ensuring it can deliver earnings and manage the balance sheet across the cycle.

16/01/2017 2 EN

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Hoping for the best, prepared for the worst

Manx Financial Group - Termination of coverage

musicMagpie - Termination of coverage

Topps Tiles - Accelerating growth through Q125

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