Persimmon sales soar 9pc in 'healthy' housing market
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- 09 Jan 2021
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Housebuilder Persimmon said its full-year profits would beat market expectations after revenues soared last year on the back of “healthy” demand.
The FTSE 100 firm sold more than 16,000 homes in 2017, 6pc more than the year before, helping push revenues up 9pc to £3.4bn. Its average selling price grew 3pc to £213,300.
Persimmon said: “We continued to experience healthy customer demand for new homes through the autumn sales season,” adding that forward sales at the end of the year were 10pc higher than in 2016 at £1.4bn.
“We anticipate our pre-tax profits for the year will be modestly ahead of market consensus,” it added.
Persimmon opened new offices in Mansfield and Ipswich during the year along with a brick factory near Doncaster and 197 new sales outlets.
The company said it was “mindful” of risks to the housing market, including Britain’s forthcoming exit from 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.”
In December, Persimmon said its chairman Nicholas Wrigley and Jonathan Davie, the head of its remuneration committee, were standing down over their role in creating one of the biggest ever executive pay schemes.
