Profits to exceed expectations, predicts Persimmon


One of Britain’s largest housebuilders, Persimmon Homes, has announced a modest rise in revenues, numbers of homes sold and expects profits to come in ahead of expectations.

Market analysts have forecast that the York-based company will record a profit of £1.07 billion to 1.08 billion when its full figures are published next month. Persimmon say revenues increased by 4% to £3.74 billion in 2018, and that its forward sales for 2019 are ahead by 3% to £1.40 billion.

Sales and average selling price up

The group sold 16,449 properties last year, a 3% rise totalling 406 more than in 2018, with a Persimmon home selling for an average of £215,560 – 1% up on the previous twelvemonth. They see the UK market as benefiting from “robust employment levels, low interest rates and a competitive mortgage market.”

They also report that they bought over 17,000 plots in over 80 locations in 2018 and expect that their full report in February will show that:

“…pre-tax profits for 2018 will be modestly ahead of current market consensus, having benefited from the new developments we have opened through the year.”

It’s the first report from Persimmon since the departure of former chief executive Jeff Fairburn in November. Fairburn faced huge public criticism after collecting a bonus worth around £75 million and walked out of a BBC TV interview after being asked about the subject. He was subsequently asked to step down from his role by the company because of the “negative impact on the reputation of the business”, and left Persimmon on 31 December.

Looking ahead to a post-Brexit property market, Persimmon feel they are in a position of strength regardless of how the UK’s departure from the EU plays out.

“Whilst the future performance of the UK economy is currently subject to increased levels of uncertainty, the Group is well positioned with its strong outlet network together with the availability of a range of attractive house types at affordable prices across the regions of the UK, supported by a high-quality land bank and conservative financial structure.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800


Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator


Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.


Not a member? Sign up for free

New home construction is up in the UK, especially in north-west

Profits to exceed expectations, predicts Persimmon


By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.