Housebuilder Persimmon profits top £1bn as it names new CEO February 26, 2019 Persimmon made £1.1bn in profits in 2018, the housebuilder confirmed today, as it named a new chief executive. Dave Jenkinson, the finance officer who has been acting chief executive since its former boss left under a cloud over his bonus last year, will take on the role permanently, Persimmon confirmed. Read more: Is Persimmon’s success [...]
Persimmon share price dips in wake of Help to Buy contract fears February 25, 2019 Persimmon was among the biggest FTSE 100 market fallers this evening as fears that the property giant could lose its Help to Buy contract weighed on investor confidence. The developer will be hoping to claw back positive sentiment in the City tomorrow in its full-year profit results, after shares closed down nearly five per cent [...]
Is Persimmon’s success built on solid ground? February 24, 2019 If you are a long-term Persimmon shareholder you will have done pretty well out of recent years. Starting 2012 at around £4 a pop, the stock closed last week near the £25 mark. The arrival of the government’s Help to Buy programme in 2013 may have had something to do with that meteoric rise. This [...]
Housing minister James Brokenshire ‘concerned’ over Persimmon’s Help to Buy scheme, reports say February 23, 2019 Housing minister James Brokenshire has raised concerns that Persimmon is not operating correctly within the Help-to-Buy scheme, according to reports. Brokenshire is “increasingly concerned” over the behaviour of the UK’s second biggest housebuilder, raising issues over leasehold, build quality and accountability, a source told Reuters. “Leasehold, build quality, their leadership seemingly not getting they’re accountable [...]
FTSE 100 index rises on hopes of US – China trade war breakthrough January 18, 2019 The FTSE 100 is up more than one per cent this morning on hopes of a breakthrough in trade talks between the US and China. The index was boosted by hopes of progress in the trade war, which were sparked by news reports suggesting that the US is considering reducing tariffs on Chinese imports. Read more: Markets lift [...]
Berkeley Group chairman Tony Pidgley on Brexit, buildings and bonus backlashes January 16, 2019 Tony Pidgley is a staunch defender of his trade, as you would expect Britain’s best-known housebuilder to be. So it comes as something of a surprise when, asked about the huge row that hit his sector last year when fellow housing boss Jeff Fairburn took a £75m bonus, he does not come down on Fairburn’s [...]
Bovis shrugs off Brexit concerns as it eyes full-year profits ahead of expectations January 16, 2019 Housebuilder Bovis today said it expects profits to beat market consensus thanks to an increase in new homes and a wider margin. The number of new homes delivered rose three per cent on last year to 3,759, which the company said was in line with expectations. Read more: Persimmon boss picked pub for first big purchase [...]
Persimmon’s profits to beat expectations despite boss bonus scandal January 15, 2019 Housebuilder Persimmon today said it expects its full-year profits to be “modestly” ahead of market consensus thanks to a string of new developments. The company reported a four per cent rise in total revenues to £3.74bn for the year to the end of December, with legal completion volumes up three per cent to 16,449 new [...]
FTSE risers and fallers: Housebuilders climb on reports of Brexit delay January 11, 2019 Brexit sensitive housebuilders were the biggest risers in the FTSE 100 today after it was reported that the deadline for the UK’s departure from the European Union could be extended. Taylor Wimpey, Persimmon and Barrett Development took the top spots in the FTSE 100 today after it was revealed that a backlog of six essential bills, [...]
Do not succumb to the ‘Fat Cat Friday’ outrage January 3, 2019 As if Greggs’ vegan sausage rolls hadn’t prompted enough misplaced shock and outrage for the start of a new year, you can expect more of the same this morning when campaigners declare it to be “Fat Cat Friday”. The High Pay Centre, which opposes current levels of executive remuneration, calculates that by this afternoon a [...]