Persimmon starts to ramp up completions

Aaron Morby 7 months ago
Share

Persimmon has revealed that a surge in second half new home completions helped to deliver 14,752 homes in 2015, 8% up on last year.

The third biggest house builder also announced several main board changes in an annual trading up date this morning.

After almost 30 years of service, Nigel Greenaway, south division chief executive is to retire.

Also North division chief executive David Jenkinson will be promoted to group managing director with immediate effect,  reporting directly to the group chief executive, Jeff Fairburn.

Persimmon said further improvements to its build programmes at the mid-year stage, together with healthy sales taken through the autumn season, helped its to lift second half completions by 13% to 7,717..

Two new businesses opened last year made a solid start to trading, with Central delivering 160 new homes and Teesside 310 new homes during the year.  

A further two new businesses based at Launceston in Cornwall and Perth in Scotland commenced trading this week to support “disciplined growth”.

Overall revenues for 2015 rose 13% to £2.9bn, while the house builder’s average selling price edged up 4.5% to £199,100.

Persimmon ended the year with forward sales of £1,100m is 13% ahead of 2014 and cash balances of £570m, 50% up on the same time last year .

The house builder said its expansion in output, together with improved operating profitability, would produce a substantial growth in pre-tax profits.

 

 

Latest news

Gary Neville unveils twin tower plans for Manchester

Far East backing could see work start on £200m site next year
2 hours ago

HMRC smashes £6.9m construction tax fraud

Payroll and labour supply bosses kept tax deducted from workers on major sites
9 hours ago

Bid race starts for £400m public health science hub

Bidders day to be held in September for major new Harlow research HQ
8 hours ago

QS shortage still holding back construction

RICS survey shows rate of growth slowing as funding fears rise
8 hours ago

Balfour plan for 922-home Surrey estate approved

Work expected to start in 2017 on Shearwater estate regeneration
9 hours ago

Countryside sales up after post-Brexit cancellation blip

Cancelled homes now reselling at higher prices
9 hours ago

Worker killed as platform hits overhead power line

Court hears supervisor electrocuted when platform hit live cable
9 hours ago

Go-ahead for £344m London City Airport expansion

Work to create 500 construction jobs on terminal and taxiway upgrade
1 day ago

Arsonists strike at road works site in Surrey

Vandals burn out an excavator and dumper
1 day ago

Workers sent home from Cardy Construction sites

£63m turnover Kent contractor files notice of intent to appoint administrator
2 days ago

Taylor Wimpey reports “business as usual” post Brexit vote

House builder reports "normal" trading patterns after month of analysis in wake of referendum
1 day ago

Drug giant GSK unveils £275m of new construction plans

Major investment plans at trio of sites: Full details
1 day ago

Former finance chiefs at failed Connaught struck off

Stephen Hill and David Wells barred from accountancy profession
1 day ago

Civils contractors warn growth has “ground to a halt”

Government urged to restart boom with infrastructure investment plans
1 day ago

Competition watchdog clears Breedon takeover of Hope

Deal completes on Monday to create largest independent construction materials group
1 day ago

B&K wins Coventry airport £50m warehouse deal

Builder to start in August on three warehouses at Imperial Park distribution hub
1 day ago

Student digs giant Unite commits to £675m pipeline

Student accommodation construction boom continues as Unite eyes London market for bargains
2 days ago

US investor snaps up Morrison Utility Services

£600m turnover contractor bought by investor First Reserve
2 days ago

Lindner wins £25.4m cladding package at Principal Place

Facade work to start on 50-storey resi tower in City of London next year
2 days ago

Go-ahead for Portsmouth prison-to-homes job

Developer City & Country to create 230 homes at HMP Kingston site
2 days ago

£60m expansion plan for Manchester biomedical hub

Construction to start next Spring on latest phase of Citylabs scheme
2 days ago

Labourer crushed under three tonne road roller

Machine slides down steep bank and pins worker beneath it
2 days ago

Arup to work on 21-storey resi tower made of wood

Construction to start next year on world's tallest wooden resi tower in Amsterdam
2 days ago

CITB to fund “Robots for Roofing” research

Drone flying programme one of beneficiaries of latest CITB funding round
3 days ago

Lakehouse founder Steve Rawlings dies

Construction entrepreneur dies after short illness
3 days ago

Voting starts for the best companies in construction

Vote now for your favourite contractors, clients and suppliers
3 days ago

Shareholder moves to oust Speedy chairman

Major shareholder calls for former Crest Nicholson chairman to be parachuted in
3 days ago

BAM beefs-up site security after daredevil climbs tower crane

Urban explorers target £29m school site in Barrhead
3 days ago

Gatwick names 17 contractors on £1.2bn frameworks

Full list of winners from 127 companies who entered the tender race
6 days ago

Firms on alert for £700m South Wales Metro prequal

Transport for Wales gears up for early contractor involvement framework race
3 days ago