Persimmon has reported “robust” deals during 2020 despite the impact of the pandemic.
In a transaction update, House Builder reported a jump in average weekly sales rates per site 39% later in the year. The group’s total revenue fell by £3.333 million from £3.65 billion.
“We’re looking forward to seeing you in the process of delivering a great deal of energy,” said Dean Finch, CEO of Persimmon. “With the unprecedented challenges of 2020, Perimmon has produced solid performance this year as it continues to deliver the new homes needed for the country.
“The group’s strong second half completion was supported by the advanced builds that emerged throughout the year, an agile and effective response to resilient customer demand during the Covid-19 pandemic.”
“Recent events have helped to further demonstrate the continued short-term uncertainty arising from the Covid-19 pandemic.
“However, we believe that the long-term foundations of the UK housing market are resilient and will provide excellent long-term value for all stakeholders.”
The number of new home completions has decreased from 15,885 in 2019 to 13,575 in 2020.
Steve Clayton, manager of Hargreaves Lansdown, chose UK earning stocks and commented on the Hargreaves Lansdown Trading Update. Since then, we have strengthened our balance sheet through robust cash generation and a forward sales position with forecast revenues of approximately six months.
“At this stage, it is the right approach to seeing the end of the stamp work holiday and looking carefully at the immediate outlook, but we’ve seen more bullish outlook from some of the group’s rivals. Persimmon is Also, due to news about the group’s dividend intentions, investors were waiting for the full year in early March. So it’s probably surprising to see the stock get a little weaker in early trading. It’s not that.”
Persimmon shares are trading -4.56% at 2.658,00 (1015GMT).
