Persimmon revenue dips 4.4%

Housebuilder Persimmon has reported a 4.4% decline in revenue in its half-year results after sales completions dipped as it delayed releases in an effort to improve customer satisfaction. Revenue was £1.754bn for the period from 1 January to 30 June, compared with £1.836bn for the same period in 2018. Revenue attributed to housing was £1.645bn, 5.6% lower than the previous year’s £1.742bn. Legal completions fell by 6% to 7,584 from 8,072 last year. Persimmon said this reflected “the outcome of our customer service initiatives and later sales releases which reduced average active sites by 8% in H1”. It reported 345 active sites during the period. The housebuilder said its 2018 operating margin of 30.8% would be “a reasonable guide” for H1 2019. David Jenkinson, group chief executive, said: “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.”   To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette