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Persimmon (PSN)

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Dod101
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Re: Persimmon (PSN)

#355083

Postby Dod101 » November 10th, 2020, 8:09 am

Arborbridge wrote:
Dod101 wrote:
idpickering wrote:Third Quarter Trading Statement

https://www.investegate.co.uk/persimmon ... 00077430E/


I do not hold but has that further interim div of 70p been announced before? If not it I assume will bode well for the future.

Dod


Reflecting the Group's continuing strong performance, a further interim dividend of 70p per share will be paid on 14 December 2020, which together with the interim dividend of 40p per share paid in September, replaces the previously postponed 110p per share final dividend declared for 2019.

The 70p is a new announcement AFAIK. Sounds better than the overcautious zero I pencilled in when they "postponed" :)


Good for all holders then. Well done.

Dod

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Re: Persimmon (PSN)

#376429

Postby idpickering » January 13th, 2021, 7:12 am

Trading Statement

Highlights

Dean Finch, Group Chief Executive, commented:

"Against the backdrop of the unprecedented challenges of 2020, Persimmon produced a robust performance for the year, as we continued to deliver the new homes the country needs. The Group's strong second half completions were supported by its advanced build coming into the year, an agile and effective response to the Covid-19 pandemic and resilient customer demand. I would like to take this opportunity to thank my colleagues and our suppliers and subcontractors for their continued hard work and commitment throughout this challenging period.

"The health, safety and wellbeing of our customers, our workforce and our communities has been paramount throughout and all of the Group's businesses continue to operate in line with our Covid-secure policies and procedures.

"We continue to improve our customer service and build quality and I am pleased at the level of commitment I have seen from within the business to achieving these aims, as recognised in our current customer satisfaction scores which have been trending ahead of the 5 star HBF rating since January 2020. Looking ahead, we are focused on delivering further improvement and consistency in the way we serve our customers and build our homes, whilst reducing our impact on the environment.

"Recent events have served to further demonstrate the continuing near term uncertainties arising from the Covid-19 pandemic. However, we believe that the longer term fundamentals of the UK housing market remain resilient and I am confident Persimmon will continue to deliver superior long term value for all of its stakeholders."


https://www.investegate.co.uk/persimmon ... 00064639L/

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Re: Persimmon (PSN)

#376474

Postby monabri » January 13th, 2021, 9:41 am

Last year there was articles in the news over quality issues with PSN houses. Then there was a construction site lockdown and now they say "current customer satisfaction scores which have been trending ahead of the 5 star HBF rating since January 2020."

AsleepInYorkshire
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Re: Persimmon (PSN)

#376475

Postby AsleepInYorkshire » January 13th, 2021, 9:46 am

monabri wrote:Last year there was articles in the news over quality issues with PSN houses. Then there was a construction site lockdown and now they say "current customer satisfaction scores which have been trending ahead of the 5 star HBF rating since January 2020."

Some companies traded through the first lockdown, some closed for a short period to become Covid compliant, but I don't recall many firms closing completely for significant periods of time.

AiY

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Re: Persimmon (PSN)

#376513

Postby scrumpyjack » January 13th, 2021, 10:46 am

Their website still says the current intention is to pay dividends of 110p in late March 2021 and 125p in early July 2021
https://www.persimmonhomes.com/corporat ... eturn-plan

idpickering
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Re: Persimmon (PSN)

#385309

Postby idpickering » February 10th, 2021, 8:21 am

Persimmon Acts to Address Legacy Cladding Issues

Following a review of past projects, Persimmon is today announcing a financial commitment to address cladding safety issues in its legacy development portfolio.

As first and foremost a builder of traditional family homes, the Group has not been a major developer of high-rise buildings. We believe we account for less than one percent of all high-rise developments. However, in the past we have built multi-storey buildings which met all the fire safety rules and regulations in place at the time, but which used cladding materials which may now be considered unsafe and require removal.

The Group believes strongly that it has a responsibility to step forward and tackle this issue head-on. Persimmon has therefore made a provision of £75 million in its 2020 results to pay for our contribution to any necessary work on 26 buildings that may be affected by the cladding issue.



Full item here; https://www.investegate.co.uk/persimmon ... 00035360O/

idpickering
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Re: Persimmon (PSN)

#391725

Postby idpickering » March 3rd, 2021, 7:11 am

FULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020

Here; https://www.persimmonhomes.com/corporat ... -news-(rns)/rns-news/2659495

Also posted on HYPP.

Ian.

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Re: Persimmon (PSN)

#391774

Postby Breelander » March 3rd, 2021, 10:43 am

idpickering wrote:FULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020

Here; https://www.persimmonhomes.com/corporat ... -news-(rns)/rns-news/2659495

Also posted on HYPP.

Ian.


Broken link fixed:

https://www.persimmonhomes.com/corporate/investors/regulatory-news-(rns)/rns-news/2659495

Also available here: https://www.investegate.co.uk/persimmon ... 00079381Q/

idpickering
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Re: Persimmon (PSN)

#407687

Postby idpickering » April 28th, 2021, 2:24 pm

Trading Update

Dean Finch, Group Chief Executive, said:

"Persimmon has made a strong start to the year with current forward sales 23% ahead of last year and 11% ahead of the same point in 2019. Our build rates continue at pre-Covid levels and we remain on track to deliver first half volumes approaching those of the first half of 2019. We are progressing our land holdings and taking advantage of good quality investment opportunities, bringing 6,000 plots across 29 locations into the business in the period and securing a strong pipeline for the future. Our current outlet network is expected to remain stable at approximately 300 outlets on average throughout the year.

"In March, I outlined our five key priorities to ensure Persimmon achieves our new ambition and secures a reputation for providing both outstanding service and outstanding value. We are making good progress and pleasingly our HBF customer satisfaction score1 remains ahead of the five-star threshold.

"Demand for newly built homes remains healthy and the Group's sales rates are encouraging. Persimmon's high quality land holdings, balance sheet strength and liquidity provide a strong platform to continue to deliver the homes the country needs, underpinning long-term sustainable returns for the benefit of all of its stakeholders

https://www.investegate.co.uk/persimmon ... 00037803W/

ursaminortaur
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Re: Persimmon (PSN)

#407709

Postby ursaminortaur » April 28th, 2021, 3:12 pm

idpickering wrote:Trading Update

Dean Finch, Group Chief Executive, said:

"Persimmon has made a strong start to the year with current forward sales 23% ahead of last year and 11% ahead of the same point in 2019. Our build rates continue at pre-Covid levels and we remain on track to deliver first half volumes approaching those of the first half of 2019. We are progressing our land holdings and taking advantage of good quality investment opportunities, bringing 6,000 plots across 29 locations into the business in the period and securing a strong pipeline for the future. Our current outlet network is expected to remain stable at approximately 300 outlets on average throughout the year.

"In March, I outlined our five key priorities to ensure Persimmon achieves our new ambition and secures a reputation for providing both outstanding service and outstanding value. We are making good progress and pleasingly our HBF customer satisfaction score1 remains ahead of the five-star threshold.

"Demand for newly built homes remains healthy and the Group's sales rates are encouraging. Persimmon's high quality land holdings, balance sheet strength and liquidity provide a strong platform to continue to deliver the homes the country needs, underpinning long-term sustainable returns for the benefit of all of its stakeholders

https://www.investegate.co.uk/persimmon ... 00037803W/



https://www.theguardian.com/business/2021/apr/28/housebuilder-persimmon-reports-23-sales-rise

Analysts said the shortage of housing, combined with taxpayer-funded support for new buyers, was driving up the price of new homes and contributing to the profits of Persimmon and other homebuilders.

idpickering
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Re: Persimmon (PSN)

#425750

Postby idpickering » July 8th, 2021, 7:08 am

Trading Update

Persimmon plc ("the Group") announces the following trading update ahead of its Half Year Results to 30 June 2021, which will be released on Wednesday 18 August 2021. This statement covers the period from 1 January 2021 to 30 June 2021.

Dean Finch, Group Chief Executive, said:

"Persimmon performed well during the first half of the year delivering new home sales completions approaching the levels achieved in the first half of 2019. I am particularly pleased that we are continuing to achieve pre-Covid build rates across our sites whilst successfully maintaining higher levels of build quality and customer service. Our current HBF customer satisfaction score is 91.9%1, with Persimmon's monthly performance trending ahead of five star for the last eighteen months. We are providing much needed new homes to our customers whilst continuing to drive forward our ambition of building right, first time, every time.

"Customer demand for our new homes has been strong right across the UK with healthy sales reservation rates through the period. The Group has an excellent forward order book at the end of June of £1.82bn.

"In supporting the Group's high quality growth we are taking advantage of attractive land investment opportunities and successfully brought over 10,000 new plots into the business across 48 locations in the period. We remain focused on progressing our pipeline of new sales outlets through the planning system and into production, and on our ongoing build programmes, to provide improved stock availability and choice for our customers.

"Persimmon is well placed for the future with a strong balance sheet and healthy liquidity. As such, we are pleased to announce the accelerated payment of the surplus capital distribution of 110p per share in respect of the year ended 31 December 2020, which will be paid on 13 August 2021."

Highlights

- 7,406 legal completions (2020: 4,900, 2019: 7,584)
- Total revenue of £1.84bn (2020: £1.19bn, 2019: £1.75bn)
- Forward sales of £1.82bn (2020: £1.86bn, 2019: £1.62bn)
. 285 active sales outlets on average throughout the first half with c. 85 forecast to open in H2 2021
- Cash of £1.32bn (2020: £0.83bn) and land creditors of c. £365m (2020: £374.5m)


https://www.investegate.co.uk/persimmon ... 00045381E/

idpickering
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Re: Persimmon (PSN)

#435566

Postby idpickering » August 18th, 2021, 7:12 am

Half Year Results

Strong platform for high quality growth

Experienced management team delivering high quality homes across the Group's 31 housebuilding businesses.

A diverse UK-wide network, operating on c. 300 active outlets on average during 2021, with a strong pipeline expected to deliver approximately 85 new outlets by the end of this year, with a similar number of new outlets targeted to open in the first half of 2022.

High quality land holdings, with 85,771 plots owned and under control at 30 June 2021 (December 2020: 84,174), with industry leading embedded returns.

The Group brought 10,272 plots into the business in the period whilst maintaining the Group's high quality return requirements, across 48 locations at a replacement rate of c. 140%. Exciting pipeline of deals progressing.

The Persimmon Way is fully operational across the business focused on delivering consistent high standards of build quality.

Pre-Covid build rates have been maintained for the last twelve months.

And later;

Dividends

After careful assessment of the capital needs of the business, the Board accelerated the payment of the regular annual distribution of 125 pence per share, as an interim dividend for the financial year ended 31 December 2020, to 26 March 2021 from early July 2021. In addition, on 13 August 2021, the Board accelerated the return of surplus capital in relation to the financial year ended 31 December 2020 by way of a payment of 110 pence per share, rather than making two payments of 55 pence per share, one to be paid in August 2021 and the second in December 2021 as had previously been indicated. This has returned the Group to distributing two capital return payments every 12 months, a year earlier than originally envisaged. There will be no further dividend payments in relation to the financial year ended 31 December 2020



https://www.investegate.co.uk/persimmon ... 00059582I/

Breelander
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Re: Persimmon (PSN)

#435668

Postby Breelander » August 18th, 2021, 1:37 pm

idpickering wrote:Half Year Results

https://www.investegate.co.uk/persimmon ... 00059582I/


Broken link, full link here:

https://www.investegate.co.uk/persimmon ... 00059582I/

idpickering
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Re: Persimmon (PSN)

#435684

Postby idpickering » August 18th, 2021, 2:30 pm

Breelander wrote:
idpickering wrote:Half Year Results

https://www.investegate.co.uk/persimmon ... 00059582I/


Broken link, full link here:

https://www.investegate.co.uk/persimmon ... 00059582I/


Thanks Reelander.

Ian.

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Re: Persimmon (PSN) - Whoops a daisy

#450884

Postby monabri » October 17th, 2021, 8:31 pm

Whoops..!

https://www.ladbible.com/community/news ... 4.amp.html

"Entire Block Of New-Build Flats Built Wrong Way Around"

"Bosses at a housing firm have been ordered to flip around their homes after they built them the wrong way round."

"Builders at Persimmon Homes, one of the UK's biggest developers, made the blunder while constructing 262 properties at a new housing estate in Colchester, Essex."

AsleepInYorkshire
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Re: Persimmon (PSN) - Whoops a daisy

#450889

Postby AsleepInYorkshire » October 17th, 2021, 9:00 pm

monabri wrote:Whoops..!

https://www.ladbible.com/community/news ... 4.amp.html

"Entire Block Of New-Build Flats Built Wrong Way Around"

"Bosses at a housing firm have been ordered to flip around their homes after they built them the wrong way round."

"Builders at Persimmon Homes, one of the UK's biggest developers, made the blunder while constructing 262 properties at a new housing estate in Colchester, Essex."

There's actually a very rational explanation to this. Many builders have standard house types that they build. Any of the houses can be built

As - as the drawing
Opp - a mirror reflection of the drawing

It's called "handing".

It's possible that the block is one of many that are the same but this block is "Opp". It's either shown as "Opp" on the planning layout and site haven't picked it up or the construction layouts have somehow not picked the information up correctly. I've seen this mistake more than once. It's more common than one would expect.

AiY

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Re: Persimmon (PSN)

#456716

Postby daveh » November 9th, 2021, 9:02 am

Trading statement:
https://www.investegate.co.uk/persimmon ... 00027148R/

Highlights

Dean Finch, Group Chief Executive, commented:

"Persimmon continued to perform well through the period against a backdrop of healthy demand, with private sales reservation rates per site remaining well ahead of 2019, as sales followed a more normal seasonal pattern as expected when compared to 2020.

"As previously reported, we anticipate growth in new home sale completions for the full year will be c. 10% over last year, our customer satisfaction score continues to track ahead of the five star threshold and healthy selling prices and our off-site manufacturing capabilities are mitigating inflationary pressures, to support our industry leading margins.

"While the industry continues to face challenges in the UK planning system, we are successfully bringing new land into construction and growing our already strong UK wide outlet network.

"With £1.15bn of forward sales reserved beyond the current year and a quality pipeline of new developments coming on stream, Persimmon has a robust platform to support its continued high quality growth and the delivery of superior long-term sustainable returns for the benefit of all stakeholders."

● Strong performance for the period - average private new home sales reservation rate per site c. 16% ahead of 2019.

● Robust platform for growth - expect to deliver c. 10% increase in legal completions in 2021 (2020: 13,575 legal completions) and £1.15bn of forward sales reserved beyond the current year (2019: £0.95bn).

● Five star quality and service - levels of customer satisfaction at over 92%1 for the current survey year, with the Group scoring above the five star threshold since January 2020.

● Industry leading margins - balance of inflationary pressures being managed well supporting resilient industry leading margins.

● Substantial high quality land replacement - c. £380m land spend incurred in the year to date whilst maintaining the Group's high quality return requirements.

● Strong financial position - healthy liquidity with a cash balance of c. £895m at 31 October 2021 (2020: £960m).

idpickering
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Re: Persimmon (PSN)

#472629

Postby idpickering » January 13th, 2022, 7:58 am

Trading Statement

Highlights

Dean Finch, Group Chief Executive, commented:

"Persimmon's performance has been excellent through the year, delivering high quality growth. I would like to thank my colleagues and our wider workforce for their hard work and commitment in achieving the Group's strong performance. Whilst continuing to provide five star levels of customer satisfaction the business provided 14,551 new homes at an anticipated full year underlying operating margin of c. 28%1, maintaining our industry-leading performance.

"We have continued to secure high quality land opportunities, bringing over 20,500 new plots into the business in 2021 representing in excess of 140% of current consumption levels. This strong pipeline provides excellent momentum for the Group's future growth. Our teams are working diligently to bring these sites into construction as soon as possible to enable us to deliver much needed homes across the UK.

"Whilst the industry continues to face the ongoing operational and economic challenges as a consequence of the pandemic, particularly as the Omicron outbreak unfolded in the last six weeks of the year, the Group continues to manage these ongoing challenges comprehensively. The long term fundamentals of the UK housing market remain strong and I am confident of Persimmon's future success."


https://www.investegate.co.uk/persimmon ... 00042771Y/

idpickering
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Re: Persimmon (PSN)

#483667

Postby idpickering » March 2nd, 2022, 7:18 am

Persimmon Plc today announces Final Results for the year ended 31 December 2021.

Trading performance
 Strong demand throughout the year with the Group’s average private weekly sales rate being
c. 9% higher than 2020, a year significantly impacted by pent up demand brought about by the
pandemic, and c. 22% ahead of 2019.
 Average selling prices increased by 2.8% since 2020 reflecting a combination of the mix of
homes sold in the year and the increased proportion of homes sold to our housing association
partners.
 Effective supply chain management, cost control and the Group’s vertical integration, together
with strong selling prices, mitigated build cost inflation of c. 5.0% and delivered an industryleading underlying operating margin5
of 28.0% (2020: 27.6%).
 Strong net cash generation of £1,209.8m (2020: £1,066.8m) before capital returns of £749.6m
and net land spend of £447.7m.
Strengthening our development pipeline
 Added over 20,750 plots of land, both from on market purchases and our strategic land
holdings, with industry-leading embedded margins.
 High quality land holdings, with 88,043 plots owned and under control at 31 December 2021
(2020: 84,174 plots).
 Continued investment with gross land spend of £460m in 2021.
Build quality – ‘build right, first time, every time’
 An unrelenting focus on ‘build right, first time, every time’, further enhancing the Group’s build
quality and customer service.
 Achieved pre-Covid build rates throughout the year, whilst building better quality homes in line
with the ‘Persimmon Way’, the Group’s construction excellence programme, which is fully
operational across the business.
 Build rates have further improved in the early part of this year as we continue to see the benefit
of the Persimmon Way in our build programmes and the Group’s vertical integration facilities.
 All warranty provider scores have significantly improved over the last year, with a 17% year on
year improvement in the number of NHBC Reportable Incidents6
.
Customer service
 Achieved a 92.0%4
customer satisfaction score for the survey year ending 30 September 2021.
We believe we will achieve a five-star rating when the HBF’s annual results are published later
in March 2022 for the first time in the company’s history.
 FibreNest, the Group’s ultrafast, full fibre broadband service, currently supports over 21,000 of
our customers across over 270 developments. (2020: over 12,500 customers across 198
developments).
Supporting sustainable communities
 Our private average selling price of £259,231 for the year to 31 December 2021 is over 20%7
lower than the UK national average.
 Investment of £490m in local communities in 2021, including the delivery of 2,533 new homes
for lower income families to our housing association partners.
 Over £1.8m donated to local charities and community groups.
 Challenging science-based carbon reduction targets – net zero homes by 2030 and net zero
operations by 2040 – now set and independently accredited by the Science Based Targets
initiative.
 Pilot projects, utilising innovative carbon reduction technologies, are underway to determine
the most effective methods of delivering net zero carbon homes in use at scale.

And later;

Shareholder returns .

 Dividends of 125p (£398.7m) and 110p (£350.9m) per share paid on 26 March 2021 and 13
August 2021 respectively.
 Payment of regular annual instalment of 125p per share to be made on 1 April 2022 (brought
forward from July 2022) with payment of 110p of surplus capital in July 2022, subject to
continuous review, in line with the Group’s strategy.

The Directors propose to return 125p of surplus capital to shareholders for each ordinary share held on the register
on 11 March 2022 with payment made on 1 April 2022 as an interim dividend in respect of the financial year ended
31 December 2021. The Directors intend to return surplus capital of 110p per ordinary share as an interim dividend
with respect to the financial year ended 31 December 2021. This distribution to shareholders is anticipated to be
made in July 2022 subject to continuous Board assessment in line with the Group’s strategy. The total anticipated
distributions to shareholders is 235p per share (2020: 235p per share) in respect of the financial year ended 31
December 2021.


https://www.persimmonhomes.com/corporat ... t-2021.pdf

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Re: Persimmon (PSN)

#491543

Postby idpickering » April 4th, 2022, 4:08 pm

This info from the Company News segment on the Persimmon page on HL;

GOVT SAID TO HAVE DROPPED DEMANDS ON HOUSEBUILDERS FOR £4BN CLADDING FUND

Shares of London-listed housebuilders rallied on Monday following a report the government is dropping its demand for them to contribute towards a £4bn cladding remediation fund.

The government is embroiled in discussions with the Home Builders Federation (HBF) over a plan to remediate dangerous cladding on buildings of between 11 metres and 18 metres high. Housing secretary Michael Gove had set a deadline of Thursday 31 March for an agreement to be made.

Construction News said it was understood the two parties are "nearly there" in agreeing on terms, but that the £4bn remediation fund is not being discussed at the moment. Instead, housebuilders would pledge to remediate the medium-rise buildings they have built over the last 30 years and not apply to the Building Safety Fund (BSF) for the funding.

That would free up the remainder of the £5.1bn BSF to be used to remediate buildings higher than 18 metres.

The news sent housebuilding shares surging. At 1110 BST, Persimmon was up 4.8% and Barratt Developments was 4.5% higher, while Berkeley and Taylor Wimpey were both 3.8% firmer.


https://www.hl.co.uk/shares/shares-sear ... dinary-10p

Persimmon up 3% as I type.

Ian.


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