Persimmon has achieved a “significant increase” in underlying pre-tax profit, it has announced today (January 10).
Reporting to the City ahead of its preliminary results to be released in March for the year ended December 31 2010, the volume housebuilder said that underlying profit would be at the top end of expectations, ranging from £75 million to £96 million.
This follows a 10% increase in turnover achieved during the year to £1.57 billion. The company legally completed 9,384 homes against 2009’s 8,976, at an average selling price of £167,000 - a 6% improvement.
The firm acquired more than 5,000 plots in the second half of 2010 and holds 59,000 plots in total.
Persimmon commented that the recent severe weather had affected sales activity, but pricing had remained stable.
However, the company added: “It is too early to assess the likely outcome of the forthcoming spring sales season.”
Source: Housebuilder
See Also: Property News (0), Persimmon (0), Housebuilder (0)
Date Published: 10 January 2011
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