UK's Taylor Wimpey warns of lower annual profit due to one-off charge

(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.

The original contractor, responsible for the defective work, ceased operations due to financial difficulties, the company said.

The firm now expects operating profit for 2025 to be 424 million pounds, compared to a prior forecast of 444 million pounds.

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)