Underlying profit at Persimmon hit £7 million last year as the firm announced strong forward sales and plans to open 90 new sites in the first half of 2010.
Persimmon reported pre-tax profit of £77.8 million but this includes a £74.8 million writeback of land value. The firm completed 8,976 units in the year, down from 10,202 in 2008. But with forward sales up 29% on last year at around £900 million, the firm is looking to open new sites.
"With the scheduled opening of new sites we will be able to react to further improvements in the housing market and will continue to buy land if we see good opportunities," said Persimmon chief executive Mike Farley.
Source: Housebuilder
See Also: Property News (5994), Persimmon Homes (6), Persimmon (5), Housebuilder (84)
Date Published: 03 March 2010
Related News
