Britain’s biggest housebuilder completed 13,509 property sales in the year to 31 December compared with 11,528 the previous year. Homes were sold at an average price of £190,500 – five per cent higher than in 2013.
Persimmon’s strong performance helped lift revenues by 23 per cent to £2.6bn, slightly ahead of expectations.
“We’re going into an election year, and that does create a little bit of uncertainty, but we anticipate to see good demand for the products we’re producing,” said chief executive Jeff Fairburn.
It has already forward sold £973m worth of new homes as at 31 December, seven per cent higher than the same time last year, providing a strong start to the financial year.
Shore Capital analyst Robin Hardy hiked his full-year pre-tax profit forecast from £454m to £468m, thanks to the better-than-expected results.
“The group’s cash-flow is strong, the new build market remains heavily under-supplied and the advantages of buying new in this cycle remain so pronounced [mainly thanks to Help-to-Buy] that we sense that Persimmon may be willing the press a little harder on volume expansion than it has previously indicated,” he said.
Shares edged up 0.85 per cent.