The interim statement noted that orders for the construction business had risen 26% and now stood at £749m. The firm said the facilities management business and general contracting division had also seen growth.
Taylor Woodrow's UK housing division, which accounts for 53% of group operating profit, turned in good results for the half year. The average sales price of a house increased 6% to £187,000 from £176,000 in 2002. The group said that it had opened 19 sites in the first six months of the year and a further 13 sites were expected to open in the second half of the year.
The average price of a house rose 6% to £187,000
The group's housing division had a forward order book of £379m at 30 June.
Taywood said that 23% of its construction business was in support of its housebuilding operation. The construction arm's pre-tax profits nearly doubled to £14m, partly because of profits on the disposal of PFI equity stakes.