Persimmon boost as shares hit new high after beating profit forecasts
PERSIMMON’S shares hit a 2601p high, up 45p, as it beat profit forecasts. Half-year pre-tax profits at the blue-chip builder grew by 30 per cent to £457.4 million on 12 per cent higher revenue of £1.66 billion.
Jeffrey Fairburn: Brexit has not effected Persimmon purchases
It sold 7,794 homes, up 8 per cent, with the average price up 4 per cent to £213,262.
Chairman Nicholas Wrigley said: "The housing market across our regions remains confident and consumer sentiment is resilient.
"The potential headwinds of higher inflation are being mitigated by healthy employment levels and a competitive but disciplined mortgage market.
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The potential headwinds of higher inflation are being mitigated by healthy employment levels
"Customers are finding good levels of support from mortgage lenders who have approved 195,000 loans during the second quarter of 2017, a very similar level compared with the same period last year despite the heightened uncertainties associated with the result of the recent UK General Election.
"With our extensive network of sales outlets across the UK offering attractive house types at affordable prices, we expect to see the normal seasonal increase in sales interest from customers as the summer holidays come to an end in early September.
"Since 30 June we have opened 22 new outlets for sales whilst 42 existing outlets have fully sold through.
"We plan to open a further 80 new outlets through to the end of the year, including the 25 outlets where we are already pushing forward with our build programmes and which will commence sales release in early September."
