Persimmon posts rise in completions

Housebuilder Persimmon has posted a 7% rise in completions to 10,664 homes, ahead of market expectations. In a trading update ahead of its final 2024 results, due to be published in March, chief executive Dean Finch said the company expects to report an underlying operating margin in line with last year, with underlying pre-tax profit at the upper end of market expectations of £390m. He said customer enquiries and sales rates have been “consistently ahead” of last year since the spring. The group’s private average selling price was slightly ahead of 2023 at £287,150. “Persimmon has worked hard and is well positioned for the future, supported by the land and planning investment we have made in recent years, our vertical integration capabilities and our excellent teams,” Finch added. “This investment, coupled with the government’s ambitious planning reforms which demand more of the high-quality, affordable homes which are Persimmon’s core strength, supports our growth ambitions in the medium-term.”