Housebuilder Taylor Wimpey’s operating profits rose from £28.9m to £100.9m in the six month period to July, according to its half-year results published today.

Taylor Wimpey’s UK revenues rose by 11.6% to £903.3m and group profits more than doubled to £78.2m.

In the first six months of this year, the group’s operating margin increased to 11.1%, a rise from 8.2% in the same period last year.  The total number of completions during the first half of the year stood at 5,083. This is a rise on 4,707 completions recorded during the same period last year.

In its strategic land portfolio, 6,890 plots were approved for purchase, 1,601 plots more than were approved in the first half of 2011.  Of that number, planning consents were achieved on 1,565 plots.

Though the company said: “mortgage lending continues to be constrained”, the average selling price of a home increased from £168,000 to £176,000. The value of its private order book rose by 18% to £688m.

The net debt of Taylor Wimpey is lower now at £135.2m than it was in 2011, when it was £165.9m.

The net asset value per share went up by 1p and is currently valued at 57p.

Chief executive Pete Redfern said: “Although wider economic conditions remain uncertain, we have been reassured by the continued stability in trading conditions and the strength of our order book.

Looking ahead, we expect to deliver further improvements in performance across all key metrics.”