Persimmon starts to ramp up completions

Aaron Morby 6 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

Construction alliance formed for light rail work

Places for Colas, Barhale, Thomas Vale and Auctus as Balfour Beatty misses out
52 mins ago

Green light for Laing O’Rourke Liverpool cancer hospital

Work to start in next few months on new Clatterbridge Cancer Centre
18 mins ago

Watkin Jones £100m east London student tower approved

Work to start on Stratford tower at the end of the year despite Brexit vote
41 mins ago

G F Tomlinson scoops £15.9m Nottingham Uni job

Advanced manufacturing building will be constructed at the University's Jubilee Campus
14 hours ago

Kier wins bid race for £25m Mackintosh restoration

Kier beats rivals with "extremely competitive" bid for fire-damaged building
18 hours ago

Balfour Beatty chief’s wife buys £200,000 company shares

Quinn holding in construction group rises to 0.7%
23 hours ago

Willmott Dixon abandons sale of support services arm

Contractor decides to keep division after bidders wanted to break-up maintenance operation
2 days ago

Firm fined £550,000 after two men fall to their deaths

Couple fell through Euston roadside hoarding into building site basement
24 hours ago

Redrow reports buyers unbowed by Brexit

House builder expects strong year-end profits after completions rise 17% to nearly 5,000
23 hours ago

HS2 phase one opening could be delayed a year

Spending watchdog warns HS2 timetable unrealistic despite good progress on procurement
22 hours ago

Murphy finance chief becomes new Barhale CEO

Matthew Behan to lead contractor as new corporate structure established to broaden portfolio
2 days ago

£10,000 prize to cut roadwork disruption and delays

Amey and Staffordshire council seek smart digital solutions to roadwork traffic delays
24 hours ago

Currie & Brown trumps WSP bid for Sweett Group

WSP raises prospect of a bid war as it tells Sweett shareholders to sit tight
2 days ago

Suppliers hit as HOC goes into administration

Redundancies at north London firm as subcontractors left in dark
2 days ago

Student digs developer shrugs off Brexit worries

Empiric confident EU vote will have limited impact on expanding sector
2 days ago

Brexit leaves Heathrow third runway in the air

Fears grow about the future of major infrastructure projects
2 days ago

Bid costs dent Hochtief UK profits

Operating margin drops to 0.7% as profit falls 45% to below £1m
2 days ago

Breakaway trade body formed by rebar producers

Independent rebar producers and suppliers split with BAR
2 days ago

Sinkhole closes busy stretch of A1

Contractors pumping huge hole with concrete in bid to reopen route
2 days ago

Lendlease to start £275m Hammersmith scheme

Construction to start next month on major office project
5 days ago

Contractors call for calm as Brexit victory spooks markets

Construction fears over costs, skills and investment as house builder shares crash
5 days ago

Shepherd Group suffers £74m hit from sold building arm

Strong profits at remaining Portakabin business help to cut group loss to £28m
5 days ago

Bidding set to start on £2bn East London cultural quarter

London Legacy Development Corporation set to procure shell and core work
5 days ago

Building worker critical after being crushed by JCB

Digger at Hebburn housing site believed to have reversed into worker
5 days ago

Plant test cheats website dodges closure threat

CITB chiefs battling to close down site undermining tests for machinery drivers
6 days ago

Green light for £18m Midland Metro extension

Preparatory utility diversion works to start immediately
6 days ago

Hill wins approval for £100m east London housing scheme

Work to start on Walthamstow triple towers this autumn
6 days ago

Construction workers win inflation busting pay rise

Deal agreed but unions warn pay agreement is "no longer fit for purpose"
6 days ago

Cameron resigns as exit vote sends markets crashing

New Prime Minister to be elected by October
5 days ago

Costain to use more drones to make sites safer

Unmanned aerial vehicles can take on hazardous tasks
6 days ago