Persimmon set for completion target despite half year drop

Aug. 17, 2022
<p>Persimmon is on track to achieve <span>14,500 to 15,000 legal completions this year</span>, it stated today (August 17), although completions fell during its half year due to delays in achieving planning consents. </p> <p><span>During the six months to June 30 2022, the volume housebuilder’s completions totalled 6,652 against H1 2021’s 7,406. Persimmon said the fall was anticipated, with planning delays impacting consents on its new outlet openings. But it still expects “significantly higher” volume delivery in the second half of the year.</span></p><p></p> <p><span>With the drop in completions, group revenue fell 8% to £1.69</span><span> billion against 2021’s half year. Pre-tax profit decreased 8.4% to £439.7 million.</span></p><p></p> <p><span>Meanwhile, Persimmon’s new housing gross margin nudged up to 31%</span><span> from last year’s 30.9%. The firm said this was due to the business effectively managing cost inflationary pressures.</span></p><p></p> <p><span>The average selling price of Persimmon’s homes rose 4%</span><span> to £245,597. It cited continuing strong demand for its homes, with its average private sales rate for the half year up 1% year-on-year.</span></p><p></p> <p><span>The business is set to increase its active outlets by 10% by the year end, opening 60 in the first half. Around 70 are forecast to open in the second half, although Persimmon noted its …

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