Builders and building materials
Persimmon sympathetic to UK government's cladding plans
“We have constructed only a very small proportion of buildings affected by this issue”
Company
Persimmon PLC
LON:PSN
Persimmon is a house building company, which has been trading since 1972, and operates under three main brands, Persimmon Homes, Charles Church and Westbury Partnerships.
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Builders and building materials
Persimmon fails to rock the house
Private sales reservation rates per site remained well ahead of (pre-pandemic) 2019 in the second half of the year, as sales followed a more normal seasonal pattern compared to 2020.
Fast fashion, grocery and other retail trends in the shop window on Tuesday
Other updates for investors to watch out for include Direct Line, Oxford Instruments, Persimmon, Renewi and Watches of Switzerland
Builders and building materials
Housebuilders can handle Sunak's expected tax raid, suggests Jefferies
The Residential Developer Tax will be an additional 5% on top of standard corporation tax from April 2023
Builders and building materials
Persimmon, Barratt and Berkeley's big yields hard to ignore says Jefferies
Across the sector it can see dividend yields of more than 10% by 2023.
Builders and building materials
Persimmon sees housing market staying strong as profits rebound
“We are expecting an increase of c.10% in new home legal completions this year (FY 2020: 13,575 legal completions)."
House sales growth pauses for breath as stamp duty holiday winds down
As of 1 July, buyers need to pay the levy again for purchases above £250,000 from £500,000 previously, meaning the maximum tax saving fell to £2,500 from £15,000
Builders and building materials
Persimmon buoyed by surging house price inflation
Average selling prices rose by 4.9% in the half-year to June
Builders and building materials
Housebuilders have plenty of potential to rise higher, according to Jefferies
“We see earnings' momentum as continuing to drive the outperformance of housebuilders".
Builders and building materials
Persimmon says house sales 11% above pre-COVID-19 levels
The average for a private house built by the group is now £252,000
JP Morgan is upbeat on prospects for housebuilders; upgrades Taylor Wimpey
Persimmon, Redrow and Bellway are its top picks, while it downgraded Barratt
Persimmon says housing demand has remained strong in 2021
The FTSE 100 housebuilder sold 13,575 homes in the year to end-December, down 14% on 2019
Archive
UK Budget to drop on busy corporate Wednesday with results from Prudential, Persimmon, DS Smith
All eyes will be on Rishi Sunak's plans to support the UK economy out of lockdown
Builders and building materials
Housebuilders can comfortably afford the cladding removal levy, Liberum believes
A levy on turnover or a two-point hike in corporation tax for the housebuilders would reduce profits for listed builders by around 1.5% per annum over the life of the scheme, Liberum calculated.
Builders and building materials
Government promises extra £3.5bn for cladding removal but not for low rise blocks
To help pay for the removal costs, a levy will apply from 2022 on all new developments
Builders and building materials
Persimmon sets aside £75mln for cladding safety work
26 buildings may be affected by the cladding issue, Persimmon said in a statement
Archive
FTSE 100 closes slightly lower as traders await Powell speech
Footsie closed the midweek afternoon session around seven points lower, or 0.11%, at 6,524
Builders and building materials
Persimmon confident building sites will not shut under tighter lockdown measures
Sales levels over recent weeks have subsided slightly with the number of currently active sales outlets down 14% after the strong uptake of properties in the second half and “some constraints on stock availability”
Builders and building materials
Persimmon promises to have paid last year's dividend by Christmas
The York-headquartered group said it was fully sold up for the current year and that completions in the second half are expected to be “at least in line with the second half of 2019”
Will Persimmon match rival's bullish statement as builders build back better?
Supermarkets will also be in focus on Tuesday as new industry sales data is released by Kantar