29th Apr 2020 08:56
(Alliance News) - Housebuilder Persimmon PLC on Wednesday again ruled out using UK government financial aid schemes in the wake of the Covid-19 outbreak and added that customer enquiries were at "good levels" during the lockdown.
The FTSE 100 firm noted it made a "strong start" to the year with its average private sales rate per site about 10% higher annually over the first 11 weeks.
"Customer enquiries have remained at good levels through the lockdown period providing some encouragement on the resilience of demand," Persimmon said.
Its forward sales book, though "robust", stands at GBP2.4 billion, an 11% decline year-on-year from GBP2.7 billion.
Last Friday, Persimmon said it will begin a phased re-opening of its construction sites this week following similar announcements made by peers Taylor Wimpey PLC and Vistry Group PLC.
Persimmon on Wednesday affirmed it has "has not made use of the government's coronavirus job retention scheme to furlough staff and has no current plans to access any UK government's Covid-19 funding".
Chief Executive Dave Jenkinson said: "Our strong financial position and liquidity has enabled us to maintain our operational capability by retaining all staff on full pay through this period, without recourse to any government financial assistance.
"Persimmon is responding to the crisis from a position of strength, to the benefit of all its stakeholders; our long-term strategy and business model recognises the cyclical nature of the housing market, minimises financial risk through the cycle, and provides the flexibility needed to manage effectively through this difficult period."
Persimmon shares were up 0.6% at 2,224.15 pence early Wednesday in London, though down 19% since the year began.
By Eric Cunha; [email protected]
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