Group Chief Executive reports Persimmon achieved a ‘robust trading performance’ in first half of 2016.
Persimmon plc has announced half year results for the six months ended 30 June 2016, during which period it achieved a profit before tax of £352.3m, a 29% increase on the equivalent period in the previous year. Revenue was also up – an increase of 12% to £1.49bn.
Legal completions also increased, by 6% to 7,238 new homes sold, and the company achieved an average selling price of £205,762, also up 6%.
Jeff Fairburn, Group Chief Executive, said: “Persimmon’s robust trading performance in the first half of 2016 was driven by our continued focus on meeting market demand to deliver controlled sustainable growth. The Group’s strong cash generation has supported further disciplined land investment embedding value for the future.”
“While the result of the EU Referendum has created increased economic uncertainty, customer interest since then has been robust with visitor numbers to our sites around 20% ahead year on year. Our private sale reservation rate since 1 July is currently 17% ahead of the same period last year. The Group is now trading through the traditionally slower summer weeks but customer demand remains encouraging and we anticipate a good autumn sales season.”
