Persimmon revenues reach £2.6bn
THE chairman of housebuilder Persimmon has described the company’s full year performance as “strong and well balanced” after seeing revenues hit £2.6bn.
The York-based group also reported a 44% increase in underlying profit before tax to £475m (2013: £330m) on revenue of £2.6bn, up 23%.
Of its capital return, so far £442m had been returned to shareholders, Persimmon said.
It also said a payment of 95p a share due on July 6 had been brought forward to April 2.
Nicholas Wrigley, group chairman, commented: “Persimmon delivered a strong and well balanced performance in 2014.
“We have undertaken disciplined investment to support sustainable growth in volume, increasing the number of completions by 17% in the year, bringing the increase in the number of new Persimmon homes completed over the last two years to 36%.
“We have had an encouraging start to 2015 and experienced a solid opening period to the spring season with current total forward sales of £1,490m, 5% ahead of the previous year. Despite some uncertainty arising from the General Election in May, the ongoing gradual improvement in the UK economy and increasing mortgage lender support provides a supportive backdrop for the new homes market.”
Looking ahead, the group said 2015 had started well, with current total forward sales running 5% ahead of last year.
