8th Jul 2021 09:02
(Alliance News) - Housebuilder Persimmon PLC on Thursday hailed a strong first half, with revenue beating pre-virus figures and new home completions close to levels seen in the first half of 2019.
The company said revenue in the six months to June 30 rose 54% year-on-year to GBP1.84 billion from GBP1.19 billion. Revenue was up 5.1% from GBP1.75 billion two years earlier, before the onset of the pandemic.
Persimmon said it delivered 7,406 new homes during the period, up 51% annually and close to the 7,584 from the first half of 2019.
"UK housing market fundamentals remain supportive with low interest rates, improving levels of mortgage availability, ongoing government support and strong customer demand," Persimmon said.
The housebuilder said it intends to return 110p per share of surplus capital as a single additional interim dividend payment in relation to the 2020 financial year. Previously, it had intended to split up the dividend into two payments, one made in August this year and one in December.
However, the single 110p dividend will be paid on August 13, "accelerating and consolidating the previously indicated payments, and returning the group to distributing two capital return payments every 12 months, a year earlier than originally envisaged." There will be no further dividend payments in relation to 2020, it added.
Chief Executive Dean Finch said: "Persimmon is well-placed for the future with a strong balance sheet and healthy liquidity. As such, we are pleased to announce the accelerated payment of the surplus capital distribution."
Persimmon shares were 2.1% lower at 3,007.00 pence each in London on Thursday morning.
By Eric Cunha; [email protected]
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