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

Estate Agent Talk

Alterations can change a property’s rebuild cost

‘Don’t get caught short’ warning to homeowners from valuations experts – alterations can change a property’s rebuild cost Properties change over time. Homeowners may add an extension, upgrade a kitchen or bathroom, alter the layout, or even change how the building is used, but when do those changes mean it’s time for a new rebuild…
Read More →
Breaking News

HMO conversions hit investors for £82,000 on average

The average cost of converting a property into a house in multiple occupation (HMO) is estimated at more than £82,000 across England, according to new research by residential property management specialist, Rushbrook, although investors looking to avoid the conversion process have more than 2,500 existing licensed HMOs available to purchase. Rushbrook analysed HMO property listings across…
Read More →
Estate Agent Talk

Selling a HAUNTED house?

Property lawyer reveals whether you have to tell buyers about ghosts    HOMEOWNERS selling a property with a spooky reputation have been warned that its haunted history could come back to bite them if a nervous buyer starts asking questions. From unexplained footsteps and doors opening by themselves to tales of former residents refusing to…
Read More →
Breaking News

Renters call for greater transparency in HMOs

National findings released as 1 in 5 tenants report feeling unsafe at some point during their tenancy because of a housemate Rising housing costs pushing more people towards shared accommodation      42% of tenants received no information about their housemates before moving in 60% wish they had known more about who they would be living with…
Read More →
Breaking News

Housing Insight Report: August 2026

August’s figures reveal a housing market where activity continues, but buyers are taking a more cautious approach, making realistic pricing and negotiation increasingly important. Meanwhile, growing tenant demand and limited rental supply continue to create challenges across the lettings market, highlighting the different pressures facing buyers, sellers, landlords and renters. Nathan Emerson, CEO of Propertymark,…
Read More →
mycelium growth
Estate Agent Talk

How to spot and prevent damp and mould in your home

As temperatures fall and homes become more susceptible to condensation and moisture, Propertymark is urging tenants and homeowners to be aware of the signs of damp and mould and take action early to protect their homes and their health. Two-year-old Awaab Ishak died from a severe respiratory infection after being exposed to damp and mould…
Read More →