Persimmon trades in line with FY expectations

Housebuilding company Persimmon said on Wednesday that it was currently trading in line with expectations, with demand remaining strong and private average sales rates rising 2% year-on-year.

Persimmon, which highlighted its "robust" forward order book of roughly £2.8bn, anticipates that full-year completions will be weighted towards the second half, with first-half completions being lower than those delivered in 2021.

The FTSE 100-listed firm also noted that it continues to expect to deliver volume growth for the full year of around 4-7% of 2021 levels, with "resilient" industry-leading margins.

Additionally, Persimmon confirmed that on 8 July it will return 110.0p per share to shareholders on the register on 17 June and stated there will now be no further dividend payments in relation to the year ended 31 December 2021.

Chief executive Dean Finch said: "The UK housing market remains supportive and Persimmon is well-placed for the future, with a strong and experienced senior management team, positive momentum in outlet openings, improving build quality and customer service, and growing land holdings with industry-leading embedded margins.

"While we remain mindful of current uncertainties, particularly regarding consumer confidence, rising interest rates, and the impact of the tragic conflict in Ukraine, the board is confident of the group's future disciplined growth and success."