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Persimmon PLC (PSN.L)

PSN.L on London Stock Exchange

20 Feb 2018
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35.00 (+1.44%)
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Latest Key Developments (Source: Significant Developments)

Persimmon posts total forward sales revenue 2.56 billion stg
Thursday, 27 Apr 2017 02:00am EDT 

April 27 (Reuters) - Persimmon Plc :Trading update.Has attracted 6% more visitors to our development sites than last year at this stage.Total forward sales revenue, including legal completions taken to date in 2017, is currently £2.56 billion, c.11% higher than last year.Weekly private sales rate per site since reporting our 2016 final results on 27 february 2017 is 12% ahead of last year.Sales rate which is now 4% ahead for year to date..Have 8,928 new homes sold forward into private ownership market.Average selling price of c. £229,500, an increase of 4.1% over prior year..Have opened 67 of 90 new sites planned for first half of year..Currently developing 382 active sales outlets across uk.Total value of capital return plan is now c. £2.85 billion, or £9.25 per share..Group has generated £1.96 billion of free cash before return of surplus capital over five years since launch of group's strategy in 2012..Remains confident of future prospects of group..  Full Article

UK builder Persimmon says 2017 forward sales rise after profits surge
Monday, 27 Feb 2017 02:00am EST 

Persimmon Plc : Fy underlying pretax profit rose 23 percent to 782.8 million stg . Underlying profit before tax. increased by 23% to £782.8m (2015: £637.8m) . Full year revenue up 8% to £3.14bn (2015: £2.90bn) . Legal completions increased by 599 new homes to 15,171 (2015: 14,572) and average selling price increased by 3.8% to £206,765 (2015: £199,127) . 41% increase in cash generation pre capital returns to £681m (2015: £483m) . Forward sales ahead at £1.89bn (2016: £1.74bn), an increase of 9% . ‐ successfully returning surplus capital - £1,071m, or £3.50 per share, of excess capital returned since launch of plan in 2012 . Customer activity in early weeks of 2017 spring season has been encouraging. Further increase in capital return plan demonstrates board's confidence in group's prospects." . Uk new build housing market remains confident with customer demand for new homes supported by compelling mortgage products. . We are pleased with customer activity in first eight weeks of 2017 spring season. . Visitors to our sites are c. 7% ahead year on year. We have experienced a normal week on week strengthening of market on entering 2017 spring selling season. . We are in a good position to deliver further growth in 2017 . Current total forward sales, including legal completions taken so far in 2017, are £1.89bn, 9% ahead of previous year (2016: £1.74bn)..  Full Article

Persimmon CEO says first-time buyer still keen to move forward after Brexit vote
Tuesday, 5 Jul 2016 03:20am EDT 

Persimmon Plc : CEO says tradings been good, interest has remained strong after the brexit vote . CEO says slight increase in buyers pulling out of deals after referendum vote, but it has settled down . CEO says if conditions turned tough, or we see a weak market, we would back away from the land buying market . CEO says indications are that first-time buyer still keen to move forward after Brexit vote Further company coverage: [PSN.L] ((Bengaluru Newsroom +918067491136;)).  Full Article

Persimmon says too soon to judge effect of Brexit
Tuesday, 5 Jul 2016 02:00am EDT 

Persimmon Plc : Trading update . Trading through first half of year has been strong . Approvals remained ahead of last year for April/May period despite a period of increasing uncertainty leading up to EU referendum . We continued to take good levels of sales through May and June with our private sales rate being c. 1 pct ahead year on year. . We expect group's first half operating margin will be ahead of 23 pct delivered in second half of 2015 . Average number of active sales sites in first half of year was 9 pct lower than last year at 355 sites. . Group's total forward sales value at 30 June 2016 of 1.36 bln stg is level with last year and provides a strong platform for second half of year . At 30 June group held 462 mln stg of cash (2015:278 mln stg). . It remains too soon to judge effect that result of EU referendum will have on UK new homes market . With average selling price of about 205,500 stg having increased by 6 pct (2015: 194,378 stg), group revenues of 1.49 bln stg were 12 pct ahead of last year (2015: 1.33 bln stg) . Increased its legal completion volumes by 6 pct to 7,238 new homes in period (2015: 6,855) . Mortgage approvals for home purchase in Q1 of 2016 were 18 pct ahead of prior year . Group has an excellent pipeline of a further c.100 new outlets on which construction is expected to commence in second half..  Full Article

Persimmon CEO to set up charitable trust after bonus plan criticism

LONDON, Feb 14 The boss of British housebuilder Persimmon said on Wednesday he would set up a charitable trust after facing criticism over an incentive plan that could see him receive share options worth over 100 million pounds ($138.67 million).