Persimmon sales steady despite market uncertainty

HOUSEBUILDER Persimmon today said sales are 20 per cent ahead of last year despite the uncertain economic outlook.
By The Newsroom
Published 22nd Apr 2010, 10:24 BST

The York-based group said since the start of the year total sales, including legal completions, are about 1.15bn.

Persimmon added despite the run-up to the general election and it has seen a regular number of weekly visitors to each site since January and is positive on the rate of conversion from viewings to reservations for houses.

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Britain's housing market picked up in April with prices 2.6 per cent higher than in March despite a rise in supply, property website Rightmove said on Monday.

The company said that net debt stood at 265m at the end of March, compared to 680m at the same time last year and it expected a further reduction of debt as the year progresses.

The FTSE 250-listed company said it had opened 50 new sites in the first quarter of the year and planned to start work on 40 sites in the second quarter. It said it would look to use the new sites to improve margins.

Related topics:RightmoveYorkBritainFTSE