30-07-2025
Taylor Wimpey Provision Shows Long Road to Fixing UK Fire Safety
More than eight-years on from the tragic Grenfell fire that claimed 72-lives, the UK's home builders are still grappling with the long fall out from clearing up years of unsafe building practices.
Taylor Wimpey Plc has set aside £222 million ($297 million) to deal with the costs of repairing unsafe buildings, almost double its previous provision, according to a statement Wednesday. Coupled with a one off hit from a defective London project and a settlement relating to affording housing with the UK's competition watchdog, the provisions pushed the company to a £92 million loss in the first half of the year, reversing a £98 million profit a year earlier.
