Mind your own business and stay out of Persimmon’s bonus scheme November 8, 2018 The news that Jeff Fairburn has been asked to leave Persimmon in the wake of the furore over his £75m bonus should not come as a surprise. There is a febrile atmosphere of media scrutiny when it comes to such matters, and shareholders had already branded the long-term incentive scheme pay-out as “grossly excessive”. Unfortunately, [...]
Industry veteran Steve Morgan retires from housebuilder Redrow November 7, 2018 While much of today’s property talk has revolved around the bonus-related resignation of Persimmon boss Jeff Fairburn, rival housebuilder Redrow also bid its farewell to founder and chairman Steve Morgan. The industry veteran, who set up the FTSE 250 company in 1974, revealed he was retiring this morning a decade on from returning to the [...]
Farewell Fairburn: Persimmon boss asked to leave after £75m bonus backlash November 7, 2018 The fate of under-fire Persimmon boss Jeff Fairburn was finally sealed this morning, with the chief executive resigning in the wake of one of the most heated corporate pay rows since the financial crash. Fairburn, who was the UK’s highest paid boss in 2017, is to leave at the end of the year “at the [...]
Persimmon boss Jeff Fairburn walks off in interview about £75m bonus October 19, 2018 The chief executive of housebuilder Persimmon Jeff Fairburn refused to answer questions about his massive £75m bonus in an awkward interview with the BBC yesterday. Fairburn was in line for a bonus of over £100m last year before agreeing to donate £25m to charity to take his bonus to £75m. Read more: Help-to-Buy fuels rise in [...]
UK house prices: Persimmon share price dips despite fecund first half August 18, 2015 Another day, another housebuilder boasting impressive growth, after Persimmon said profits rose 31 per cent to £2.72.8m in the six months to the end of June. The figures You read that right: profits before tax rose 31 per cent to £272.8m, up from £208.9m last year. Meanwhile revenues rose 11 per cent to £1.3bn, while underlying earnings per share [...]
Housebuilder shares drop on “vanilla” house price growth August 18, 2015 Shares in the UK's largest listed housebuilders fell today, despite official figures showing annual house price growth rose to 5.7 per cent in June. Shares in Barratt fell 1.45 per cent to 643.5p in late morning trading, while Berkeley Group was down just under one per cent at 3,422p. Meanwhile, shares in Persimmon, which posted [...]
Housebuilder shares rise as government launches £36m fund to build first-time buyer homes on brownfield sites August 10, 2015 Shares in the UK's largest housebuilders rose today after the government unveiled two funds collectively worth £36m aimed at building homes for first-time buyers on brownfield sites. Communities secretary Greg Clark said a £26m fund will be used to acquire brownfield sites to provide land for starter homes, while another, £10m, fund is aimed at [...]
Persimmon reports jump in sales July 2, 2015 Housebuilder Persimmon has posted a jump in sales for the first half of the year, boosted by a pick-up in consumer confidence following the General Election. Legal completions increased by seven per cent to 6,855 new homes, while total revenue surged by 12 per cent to £1.34bn in the six months to 30 June. [...]
Taylor Wimpey, Barratt Developments and Persimmon share prices dip as fears about Labour rent control plans take hold April 27, 2015 Housing experts warned that Labour plans to bring in rent controls could lead to investors pulling out of the rental market. The Association of Rental Letting Agents (ARLA) said yesterday that three-quarters of its members feared the plans would “see landlords exit the market and reduce supply”. Such fears led to an immediate [...]
Housebuilder shares rise as Conservatives promise 200,000 cheap starter homes for first-time buyers March 2, 2015 Shares in the UK's largest housebuilders bounced this morning, after the Conservatives pledged to make 200,000 "starter homes" available cheap for first-time buyers if they win the election. Shares in Taylor Wimpey rose 1.54 per cent to 147p in early trading, while Barratt rose 0.87 per cent to 520p and Persimmon rose 1.36 per cent [...]