York housebuilder Persimmon sees pre-tax profits rise to £480.1m

The housebuilder registered a pre-tax profit of £480.1m for the six months ended June 30, 2021, up from £292.4m the same period the previous year. Total group revenues were £1.84bn, up from £1.19bn.

New home completions rose from 4,900 to 7,406. New home average selling price was up from £225,066 to £236,199.

Dean Finch, chief executive of Persimnmon, said: "Persimmon's first half performance has been robust. In particular, I am pleased we have delivered strong growth in legal completions whilst also achieving higher levels of build quality and customer satisfaction.

"We made good progress in the land market in the period, bringing over 10,000 plots of high quality land into the business, achieving good visibility of new outlet openings and providing momentum for our future growth.

"With circa 85 new outlets opening in the second half of the current year, we are improving availability and choice for our customers.

"We're managing the balance of inflationary pressures well and currently anticipate that our industry leading returns will remain resilient.

"Our forward sales position is circa 9 per cent ahead of the same point in 2019, with our cumulative private sales rate over 20 per cent above that of 2019 for the year to date.

"I would like to thank all my colleagues across the business who have achieved these results.

"Persimmon's high quality land holdings, disciplined land replacement strategy, healthy liquidity, experienced management team and continued resolve to drive improvements in build quality and customer service provide an excellent platform for its future success.

"Our ambition is to be seen by our customers as delivering both outstanding service and outstanding value. I am determined to build on the progress we have made and enhance our capability to consistently provide high quality homes which will help secure sustainable benefits for all of our stakeholders.

"We anticipate successfully delivering circa 10 per cent growth in sales completions this year. The Group has a great platform and good momentum to deliver further disciplined growth into the medium term, creating value for all."

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