Persimmon enjoys continuing growth
House-builder Persimmon has reported a 23% leap in pre-tax profits for 2016 on turnover up 8%.
Persimmon’s revenues reached £3,136.8m for 2016 (2015: £2,901.7m) and profit before tax was £774.8m (2015: £629.5m).
The company delivered 15,171 newly built homes to customers across the UK, an increase of 599 on 2015, and the average selling price of £206,765 was 3.8% higher (2015: £199,127).
Persimmon is now half-way through a 10-year plan and in that time, since 2012, it has grown annual completions by more than 60%.
Chairman Nicholas Wrigley said that the company was performing well and the the UK new build housing market “remains confident with customer demand for new homes supported by compelling mortgage products”.
Site visit by potential customers are now running 7% ahead of last year and forward sales are 9% up.
Persimmon’s new brickworks near Doncaster is also set to come on stream before the end of March. The factory will supply concrete bricks exclusively to Persimmon’s house-building operations. Its capacity of 80 million brocks a year will be enough to satisfy approximately two thirds of Persimmon’s current requirements and the £10m investment will pay for itself in just three years.
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This article was published on 27 Feb 2017 (last updated on 27 Feb 2017).