Housebuilder Persimmon reports ‘robust’ start to the year
One of Britain’s largest housebuilders Persimmon has reported robust trading since the start of the year with total forward sales revenue, including completions, up by about 8% to £2.76 billion in 2018 to date.
In a trading update ahead of today’s annual general meeting, the FTSE 100-listed company said average selling prices for its homes rose to £236,500, up from £229,500 a year earlier, adding that pricing conditions remain firm across its regional markets.
The group added: “Customer activity since the start of the year has been encouraging with the Group’s total enquiry levels running circa 13% ahead of the prior year.
“This has resulted in robust trading since the start of the year with visitor levels to site, sales conversion rates and cancellation rates all running in line with our expectations.”
Persimmon said it has opened 65 of the around 100 new sites planned for the first half of the year and is building new homes on all sites that have an implementable detailed planning consent.
The group added that it is currently developing 375 active sales outlets across the UK.
The builder concluded that its board “remains confident of the future prospects of the group”.
In March, Persimmon named Roger Devlin as its new chairman, hoping he will help the company move on after a row over an executive incentive plan saw his predecessor quit last year.
Shareholders are expected to vote on remuneration for senior bosses later today.
A full trading update will be announced in July.