Persimmon grows revenues by 9%

Housebuilder Persimmon has said that profits for the full year will come in marginally ahead of expectations as revenues for 2017 were 9% up in 2016 at £3.42 billion.

The group said legal completions rose 6% in the year to December and average sale price up 3% at £213,300.

It added 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.

Since the launch of its group strategy in 2012, Persimmon said it has made a significant contribution to increasing UK housing supply by opening 1,189 new selling outlets and delivering 80,726 new homes to the market during which time it has increased its annual production by over 70%.

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.”

The firm announces its 2017 results next month.

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