Housebuilder’s profits soar to £637.8m

HOUSEBUILDER Persimmon Homes North is celebrating an outstanding performance for 2015.

Managing director Neil Follows says his team, based across the region, helped to deliver an increase in underlying profits before tax of 34% to £637.8m. This compares to £475.0m in 2014.

Full year revenues for Persimmon were up 13% to £2.9bn, with legal house completions increasing by 8% to 14,572.

Persimmon has now completed the fourth year of its nine-and-a-half year strategic plan, with performance significantly ahead of original expectations.

The strong performance in 2015 will enable the business to further accelerate the capital return plan, with a cash return of 110p per share to be made on April 1.
The total value of capital to be returned to shareholders will increase by about £860m, with the total value of the plan increasing to £2.76bn.

The business trades under the brand names of Persimmon Homes, Charles Church and Westbury Partnerships.

“2015 was an excellent year for the business,” said Follows. “The results are a total team effort and we were delighted to deliver vital new homes across the region in areas including Bury, Stalybridge and Winsford.

“2016 looks set to be even busier for the team with developments ongoing at Stalybridge, Sandbach, Golborne, Heywood, Bury, Bolton, Winsford, Flint and Newton-le-Willows and new homes planned to be built in Bromborough, Standish, Alsager, Stockport, Leigh, Shavington, Flixton and Holmes Chapel.

“As we build further homes, we can create more sustainable jobs in the region both directly and indirectly through the diverse range of local suppliers we work with each day.”

“Employing the right people to help us grow the business even further remains a key focus for the team in the north west and we have a number of posts available now, with more coming on stream later in the year.”