House builder Persimmon posts bumper results

February 24, 2016

Persimmon is the latest house builder to  benefit from the UK’s chronic housing shortage after reporting a sharp increase in annual profits yesterday. Higher prices and higher demand driven by a lack of supply has pushed sales up by 13% to £2.9bn in the year to the end of December.

Nicholas Wrigley, Group Chairman, reportedly said: “Persimmon delivered an outstanding performance in 2015, supported by improving customer sentiment and a mortgage market which is responding to customer demand.

 “It is now four years since we launched our long term strategy focused on growing Persimmon into a stronger, larger business while maintaining capital discipline and delivering robust free cash generation. The Group’s ability to grow completion volumes by more than 55% through this period while simultaneously returning £733m of excess capital to shareholders underlines the strength of its operating model.  

 “Customer activity in the early weeks of the 2016 spring season has been encouraging and today’s further £860m enhancement to the Capital Return Plan to a total of £9.00 per share is a measure of the Board’s confidence in the Group’s future progress.”

To see Final Results 2015 in full on Persimmon website click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Finance

Your First-Time Buyer Mortgage Journey

Introduction Buying your first home is one of the biggest financial decisions you’ll ever make, and the mortgage process can feel like a maze of unfamiliar terms, forms and waiting. The good news is that mortgages for first-time buyers follow broadly the same path, and once you understand the stages involved, the process becomes far…
Read More →
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau…
Read More →
Breaking News

London property values set to fall

The latest market analysis from House Buyer Bureau has found that London is now the only region of Britain where house prices continue to trend downwards, with the average home in the capital forecast to lose almost another £5,000 in value before the end of the year should current market conditions persist. House Buyer Bureau analysed…
Read More →
Breaking News

Second-steppers turn to higher LTV mortgages as deposits fall

Barclays mortgage data shows the average value of home movers’ (non-first-time buyers) deposits fell -24.8 per cent year-on-year However, the average purchase price for home movers increased 1.0 per cent year-on-year in June, as borrowers make use of higher loan-to-value mortgage products to climb the ladder 34 per cent of prospective second-steppers say they feel…
Read More →
Breaking News

Breaking Property News 23/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Guide to AI in Commercial Real Estate: Executive Summary by Ascendix AI in commercial real estate – a beginners manual Wes Snow, co-founder & CEO of Ascendix Technologies, ”Approximately 75% of US real estate companies have already started using AI in their operations in…
Read More →
Estate Agent Talk

Conservatories fall out of fashion

Conservatories fall out of fashion as fewer than one in 10 homes boast the former must-have feature   The latest market analysis from eXp UK has revealed that conservatories appear to have fallen out of favour with England’s homeowners, with fewer than one in 10 properties currently listed for sale offering the once-popular home improvement.…
Read More →