Persimmon Earnings Rise

Persimmon, a UK homebuilder, said first-half earnings grew amid higher revenues that came as completions increased and average selling prices advanced. Total sales climbed 12% to GBP1.66 billion ($2.1 billion) during the six months that ended June 30, according to the company. Persimmon’s underlying earnings per share rose to 117.1 pence from 90.4 pence a year earlier.

Market conditions were stronger than expected last year after the decision made in a referendum for the UK to leave the European Union. Customer interest over the last seven weeks from July 1 has “remained robust,” said Chairman Nicholas Wrigley. “The housing market across our regions remains confident and consumer sentiment is resilient,” he said. “The potential headwinds of higher inflation are being mitigated by healthy employment levels and a competitive but disciplined mortgage market.”

Leave a Comment