LONDON (dpa-AFX) - Housebuilder Persimmon plc (PSN.L) Tuesday said it continued to perform well through the period from July 1 to November 8 with sales rates remaining well ahead of 2019 levels, and trading following a more normal seasonal pattern than the heavily pandemic disrupted year of 2020.
Looking ahead, the company continues to expect growth in new home sale completions for the full year to be about 10 percent over last year. The company is targeting a return to 2019 volume levels in 2022.
In its trading statement for the period from July 1 to November 8, the company recorded strong performance for the period, with average private new home sales reservation rate per site about 16% ahead of 2019.
Demand for newly built homes continues to be healthy underpinning positive pricing conditions.
Dean Finch, Group Chief Executive, said, 'Persimmon continued to perform well through the period against a backdrop of healthy demand, with private sales reservation rates per site remaining well ahead of 2019, as sales followed a more normal seasonal pattern as expected when compared to 2020... With £1.15bn of forward sales reserved beyond the current year and a quality pipeline of new developments coming on stream, Persimmon has a robust platform to support its continued high quality growth and the delivery of superior long-term sustainable returns..'
Looking ahead for fiscal 2021, the company expects to deliver about 10% increase in legal completions in 2021 from last year's 13,575 legal completions. The company has 1.15 billion pounds of forward sales reserved beyond the current year, compared to 0.95 billion in 2019.
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