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Mon November 30 2020

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Persimmon grows 9%

9 Jan 18 House-builder Persimmon is set to surpass expectations when it announces its 2017 results next month.

Persimmon’s revenues for 2017 were 9% up in 2016 at £3.42bn, with legal completion volumes up 6% at 872 new homes and the average selling price up 3% to £213,300.

The company said that demand for new homes remained healthy through the autumn sales season and the value of forward sales at the end of 2017 was 10% up on the year at £1,355m.

Nor is there any slowdown on the horizon for Persimmon. It added 17,300 plots to its land bank last year and opened 197 sales outlets. It is building on all sites that have an implementable planning consent and currently has 375 active sales outlets.

The new brick manufacturing plant in Harworth, near Doncaster, is now complete and begun deliveries to site and there are plans to expand capacity at the factory that builds the Space4 insulated frame build-system.

Persimmon’s trading update concluded: “We remain mindful of market risks including those associated with the uncertainty arising from the UK leaving the EU. However, we are keen to deliver further improvement in our housing output and remain ready to invest wherever the local planning environment is supportive.”

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