Thursday 4 July 2019 7:42 am

Persimmon revenues drop as fewer homes completed

Higher house prices were not enough to boost Persimmon’s top line in the first six months of the year as fewer homes stood ready in the half.

Revenues at the company dropped 4.5 per cent year-on-year to £1.75bn.

Read more: UK house prices – Growth falls to four-month low in June

A higher average selling price of £216,950, up 0.5 per cent, was not enough to offset a drop in construction. At 7,584, Persimmon built nearly 500 fewer homes over the six months compared to the same period in 2018.

In a trading update issued today, Persimmon said it was focusing on bettering customer service. Its top target is to give buyers a more accurate moving-in date.

“I am pleased that there are some clear early signs that our focus on increasing the quality and service delivered to our customers is beginning to bear fruit, with some encouraging improvements being made right across the business,” said chief executive Dave Jenkinson.

He added: “Our progress on customer service shows that Persimmon is listening carefully to all stakeholders and making the changes needed to position the business for the future, while maintaining a robust trading performance.”

More than half of the company’s private sales were to first-time buyers, Persimmon said.

Read more: Is Persimmon’s success built on solid ground?

The company’s build programme is“well progressed” as it enters the second half of the year, Jenkinson said.

Persimmon will present its half-year results on 20 August.