Persimmon PLC (LSE:PSN) shares rose 3.7% to 1,214p after the housebuilder delivered a small beat to City forecasts for its 2024 calendar year results.
The FTSE 100-listed group delivered 10,664 homes in the year, up 7% of the prior year, with average selling prices 5% ahead at £268.5k.
Housing revenue increased 13% to £2.9 billion and underlying profit before tax 10% to £395 million, 3% above consensus.
The company declared a 60p dividend, in line with the prior year, as net cash ended the year at £258.6 million.
Land holdings were flat at 82,084 plots and the group was selling from 270 outlets at the end of the year, 5% ahead of the a year earlier.
The sales rate since the start of the year is 0.67 per outlet per week, 14% ahead of the prior year, and selling prices are up 3% to £288k.
Based on an order book standing at £1.15 billion, 27% ahead of a year ago, and the current sales rate, Persimmon said it expects volumes to be 11,000-11,500, and is "targeting further growth in profit and returns, in line with market expectations, and an improved underlying operating margin".
The medium-term ambition is to deliver an operating margin and return on capital employed (ROCE) of 20%, growing outlets to at least 300.