7th Jan 2016 07:29
LONDON (Alliance News) - Persimmon PLC on Thursday said it sold more homes in 2015 at higher prices than the year before, leading to a rise in revenue and expectations for a big jump in pretax profit, and said the value of its forward sales has increased after a buoyant second half.
The FTSE 100 housebuilder, which focuses on the UK regions and rather than the London property market, said it sold 14,572 new homes in 2015, up 8.0% on the 13,509 sold a year earlier.
The homes were sold at an average price of GBP199,100 each, up from GBP190,533 a year earlier, lifting revenue 13% to GBP2.9 billion from GBP2.6 billion the year before.
The performance of the business improved in the second half, following a slowdown in the first half caused by uncertainty caused by the UK general election, with second half sales rising 13% against the first half to 7,717 from 6,855.
Persimmon said its value of its forward sales at the end of December was GBP1.1 billion, up from GBP973.0 million a year earlier.
Persimmon opened 250 new development sites in the UK in 2015, and its expansion in output, in addition to better operating margins, will result in a substantial rise in pretax profit and cash generation for 2015, the group said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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