16th Dec 2005 07:00
Persimmon PLC16 December 2005 TRADING UPDATE - FRIDAY 16 DECEMBER 2005 Persimmon plc announces the following trading update ahead of its PreliminaryResults to 31 December 2005, which will be announced on Monday 27 February 2006. Persimmon expects once again to report an increase in legal completions to c.12,600 in the year to 31 December 2005 (2004: 12,360). We expect turnover to bec. £2.3 billion, which would be an increase of 8% against 2004 (2004: £2.13billion). Average selling prices for the full year are expected to be c.£180,500 (2004: £172,431), a c. 5% increase compared to 2004. We therefore expect to announce another set of strong results, in line with theBoard's expectations. As commented upon at the time of the announcement of our Interim Results on 23August 2005 and again on announcement of the offer for Westbury, marketconditions have continued to require the use of selective incentives andadditional marketing support. However, by continuing to focus on strict controlof build costs and increased overhead efficiencies we have managed to achievesatisfactory operating margins in the second half of the year. Sales rates during the autumn months have been good. We therefore expect ourcarried forward sales into 2006 to be at similar levels to 2005 at c. £550million. The number of current site outlets open is, as expected, slightly aheadof the same time last year with more than 120 new outlet openings planned forthe first half of 2006. We are looking forward to completing the planned acquisition of Westbury in theNew Year and we are well positioned to develop our business further during 2006. For further information, please contact: Persimmon plc FinsburyJohn White, Group Chief Executive Edward Orlebar/ Kirsty FlockhartMike Killoran, Group Finance Director Tel: 020 7251 3801Tel: 01904 642199 Print resolution images are available for the media to download fromwww.newscast.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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