Persimmon reports strong growth in 2015

Persimmon's average selling price jumped to nearly 200,000

Persimmon's average selling price jumped to nearly 200,000

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​Housebuilder ​Persimmon ​said revenue rose 13 per​ ​cent last year as it built more homes, boosted by strong sales in the second half of the year.

The York-based firm said revenue rose to £2.9bn in 2015, slightly above market expectations.

The firm saw the average selling price of ​its homes rise 4.5 per​ ​cent to just under ​£​200,000, reflecting the increase in house prices across Britain.

​Persimmon said 2015 had been another year of strong growth for the group, with legal completions increasing by eight per cent to 14,572 new homes .

Analyst Charlie Campbell at Liberum said: "Persimmon’s full year trading update revealed a good end to the year, as expected, but we remain cautious on the shares.

"Our caution on the three largest housebuilders is due to our view that margins are close to peaking, which makes valuation unattractive.

"We remain of the view that margins are close to peak as we expect selling price inflation to moderate and build cost inflation (labour) to remain stubbornly high."

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