In a trading statement ahead of releasing its final results on March 2, the firm revealed that new home legal completions lifted 7% to 14,551 but were still down on 2019’s 15,855. The homes’ average selling price increased 2.8% to £237,050 which Persimmon said partly reflected a higher proportion of new homes being sold to housing associations compared to 2020.
The business expects its full-year underlying operating margin to be around 28%, with the company having seen in the second half a “particular mix” of legal completions.
During the second half, Persimmon said it experienced good levels of demand. Sales rates were around 20% higher than those in the second half of 2019 – a more comparable period, it added.
As of December 31 2021, the group’s forward sales were £1.62 billion, up 20% on 2019.
On the latest announcement on high rise cladding remediation, Persimmon said that it had “constructed only a very small proportion of buildings affected by this issue”. It added that in the past year it had made a commitment that leaseholders in relevant properties it had constructed should not be expected to cover costs. “We share the secretary of state's aspiration that leaseholders should not have to pay to remove cladding,” it stated.
Dean Finch, Persimmon’s group CEO, said: "Persimmon's performance has been excellent through the year, delivering high-quality growth.
"We have continued to secure high-quality land opportunities, bringing over 20,500 new plots into the business in 2021, representing in excess of 140% of current consumption levels. This strong pipeline provides excellent momentum for the group's future growth.”
