Saturday, June 19, 2021

‘Robust performance’ for Persimmon despite pandemic

Despite the challenges posed by the pandemic, York housebuilder Persimmon has “produced a robust performance” in 2020.

In the year ended 31 December, the listed company reported total revenues of £3.33 billion, falling from £3.65 billion in 2019.

In the trading update, Persimmon said that the number of new home legal completions reduced to 13,575 from 15,855, but the average selling price grew by 7% to about £230,500.

Moreover, it said that demand for new homes had remained resilient throughout the second half of the year, with its average weekly sales rate per site up 39% on the second half of 2019.

“Against the backdrop of the unprecedented challenges of 2020, Persimmon produced a robust performance for the year, as we continued to deliver the new homes the country needs,” said Group Chief Executive, Dean Finch

“The group’s strong second half completions were supported by its advanced build coming into the year, an agile and effective response to the COVID-19 pandemic and resilient customer demand.”

He added: “Recent events have served to further demonstrate the continuing near term uncertainties arising from the COVID-19 pandemic.

“However, we believe that the longer term fundamentals of the UK housing market remain resilient and I am confident Persimmon will continue to deliver superior long term value for all of its stakeholders.”

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