Company
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
The comments came as the bank's analysts initiated coverage on the European Homebuilding sector with a 'Negative' industry view
Builders and building materials
Rising mortgage rates likely to set back expected stability in the market
Builders and building materials
The pace of growth in UK house prices slowed in August according to building society, Nationwide.
Builders and building materials
Bumper summer for property is a 'detour not a change of direction' says one analyst
Builders and building materials
Persimmon however said it mitigated some material shortages through its Brickworks and Tileworks factories
Headlines will all be about inflation again tomorrow with Persimmon investors wanting some reassurance after an iffy trading update recently
Builders and building materials
Housebuilder valuations are at their lowest since 2013, according to Credit Suisse
Builders and building materials
The housebuilder said house price inflation is offsetting rising build costs and forecast half-year profit slightly above expectations
Builders and building materials
Peel Hunt says it expects a strong update from both companies
Builders and building materials
Both housebuilders have signed Michael Gove's building safety pledge
Builders and building materials
Attention will now switch to cladding and insulation companies to get them to sign up
Builders and building materials
The US bank has cut its 2023 earnings targets across the sector by 5%.
Builders and building materials
The FTSE All-Share Household Goods and Home Construction sector index is down 19.1% year-to-date, compared to a 1.4% fall for the FTSE All-Share.
Builders and building materials
The House Builders Federation hired PwC to calculate an estimate of the costs to remedy unsafe cladding on buildings between 11m-18m high.
It's not the pariah stock it once was. You might not even need to hold your nose now when buying the shares to enjoy the juicy dividend.
Builders and building materials
Persimmon PLC reported a strong rebound in 2021. The company noted, however, the conflict in Ukraine could cause disruptions in the UK economy.
Builders and building materials
“We have constructed only a very small proportion of buildings affected by this issue”
Builders and building materials
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.
Other updates for investors to watch out for include Direct Line, Oxford Instruments, Persimmon, Renewi and Watches of Switzerland
Builders and building materials
The Residential Developer Tax will be an additional 5% on top of standard corporation tax from April 2023
Builders and building materials
Across the sector it can see dividend yields of more than 10% by 2023.
Builders and building materials
“We are expecting an increase of c.10% in new home legal completions this year (FY 2020: 13,575 legal completions)."
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
Average selling prices rose by 4.9% in the half-year to June
Builders and building materials
“We see earnings' momentum as continuing to drive the outperformance of housebuilders".
Builders and building materials
The average for a private house built by the group is now £252,000
Persimmon, Redrow and Bellway are its top picks, while it downgraded Barratt
The FTSE 100 housebuilder sold 13,575 homes in the year to end-December, down 14% on 2019
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All eyes will be on Rishi Sunak's plans to support the UK economy out of lockdown
Builders and building materials
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
To help pay for the removal costs, a levy will apply from 2022 on all new developments
Builders and building materials
26 buildings may be affected by the cladding issue, Persimmon said in a statement
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Footsie closed the midweek afternoon session around seven points lower, or 0.11%, at 6,524
Builders and building materials
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
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”
Supermarkets will also be in focus on Tuesday as new industry sales data is released by Kantar
Builders and building materials
There are some thumping dividend yields on offer among the Footsie stocks, many of them too good to be true, which is why we need to apply the Goldilocks method to sorting the good from the "just right"
Builders and building materials
Prospects are sufficiently encouraging to recommend a 40p interim dividend
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Britain's blue chip benchmark finished up over 37 points, or 0.61%, at 6,127
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Also in the diary for next week are John Wood Group and US computer chip maker Nvidia, which will deliver second quarter numbers amid negotiations over a potential purchase of UK semiconductor maker ARM
Builders and building materials
As of June 30, 2020, the group said forward sales of new homes were 15% ahead of last year while interim revenues tumbled 32%
Builders and building materials
Analysts at broker Peel Hunt said the timing of the CEO departure from the coach operator "is a surprise"
Builders and building materials
Persimmon offices and sites remain shut in Scotland
Builders and building materials
Analysts said that the resilience of cash flow was “surprisingly strong”
Through the use of virtual viewings and online channels the group said it has received 820 gross private sales reservations in the five weeks since it closed its sites
The housebuilder said it believed “conserving cash and maximising financial flexibility is in the long term best interests of the business and all its stakeholders”
No companies were named in the report, though several FTSE names have been criticised over the issue in the past
The housebuilder said the promised total capital returns of £2.35 per share in 2020 will be extended at the same level in 2021
The FTSE 100-listed firm's expects group pre-tax profits to be in line with market consensus
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Mid-week will bring a mixed bag of big news, with trade and inflation dominating macro while the company diary sees updates from Persimmon, Vistry and Tullow Oil
Hardware & electrical equipment
The German bank has predicted "stronger house price growth and [a] rebound in the UK property market" following the Conservative victory at the polls last month
Builders and building materials
The broker highlighted Persimmon and Barratt as firms with healthy dividend yields, while Redrow and Bellway offered greater growth potential
Redrow is at an "unjustified" 20% discount to peers, Berkeley has a "long-term track record of value creation" and at Persimmon the concerns over quality are "overdone"
As part of a plan to improve build quality and customer care, completed sales volumes sank 6% year-on-year to 7,584 homes
A Public Accounts Committee report said the value of the scheme was "uncertain" and could be tying up funds that would be better used elsewhere
It sounds like concept dreamed up by Gwyneth Paltrow and Chris Martin, but this week the world was lectured on the concept of conscious capitalism by America's business elite
The housebuilder has pushed back move-in dates and increased its spending as it tries to make sure it can hand over the keys to new homes in time without botching them
The US government's move to allow Huawei 90 days to keep buying from US suppliers has added to the positive mood
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Another relatively quiet week of financial news is expected
Persimmon and Taylor Wimpey both make it onto Goldman Sachs’ Best and Brightest UK Ideas list, amid expectations they will return lots of money to shareholders over the next year
“Given the attractive yields on offer, the question of sustainability becomes more hazy the further out you look”
Builders and building materials
A survey of surveyors showed interest among house buyers rose for the first time in more than two and a half years
Investments and investor services
The UK's premier share index finished nearly four points lower at 7,549
Investments and investor services
The UK's premier share index closed down around 51 points at 7,552 on the day, but over the week as a whole the index added around 1.7%.
“We enter the second half with our build programme well progressed, healthy rates of sale on site and an encouraging forward sales position," said chief executive Dave Jenkinson
Investments and investor services
The Footsie finished down nearly six points at 7,603
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Aside from the AB Foods update, investors will also be eyeing updates from builders Persimmon and MJ Gleeson, while US markets will be shut for Independence Day
Investments and investor services
The mid-cap FTSE 250 added over 147 points to close at 19,462 on Friday
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Footsie closed up nearly a point at 7,368, while mid-cap cousin FTSE 250 shed over 77 points at 19,172
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Tesco, DS Smith and PZ Cussons are the standout names in Thursday's diary.
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Aide from Tesco's latest update, a number of lesser-known blue chip firms will also report in the Week Ahead including British American Tobacco, Ferguson, DS Smith, and Halma
Grace Jones' Slave to the Rhythm might well have been about the pressure of a progressive dividend policy: 'Build on up, don't break the chain; Sparks will fly when the whistle blows'
Housebuilder's forward sales revenue are down 4% and the weekly private sales rate per site was 5% lower
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The UK's premier share index finished down nearly 33 points at 7,385
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There’s a lot for investors to get their teeth into on Wednesday, with Sainsbury’s, GSK and Persimmon among the slew of companies reporting alongside Next
Many UK housebuilders have had to put aside money to tackle issues such as poorly built homes and Grenfell Tower-style cladding
A raft of broker upgrades, some Brexit cheer and the strong performance of one of the sector's minor players helped boost sentiment
Builders and building materials
The US bank has reduced its target for the FTSE 250-listed firm to 400p from 440p, albeit with the stock currently trading at 354.20p, down 8.9% on Wednesday’s close
"Persimmon is listening hard to all of its stakeholders and we hear the message that we need to continue to raise our game in customer care,” chief executive Dave Jenkinson
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The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
"Brutal cuts from the ECB as GDP growth for 2019 is cut from 1.7% to 1.1%. With this in mind, it seems like any possible interest rate raises are all but completely ruled out until likely 2021," declared Jordan Hiscott, the chief trader at
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Results from Aviva, Admiral, Greggs and Premier Oil are all in the diary for Thursday.
Footsie closed down around 32 points at 7,151, while the FTSE 250 added 23 at 19,270
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Aside from the 2018 results from the emerging markets-focused bank, FTSE 100-listed housebuilder Persimmon and speciality chemicals blue chip Croda International will also report numbers
“This would be a big blow given that more than 50% of its private sales are Help to Buy,” said Neil Wilson, chief market analyst at Markets.com.
Investments and investor services
The UK blue-chip index finished around five points ahead at 7,183
Government schemes like help-to-buy and easier mortgage access have meant housebuilders have been able to boost revenues in recent years, but these external conditions are changing
Builders and building materials
Redburn’s analysts said: “Popular commentary continues to paint the UK housing market as weak, but we view activity as remarkably resilient considering Brexit uncertainties"
The FTSE 100-listed housebuilder said its total group revenues rose by 4% to £3.74bn in 2018, up from £3.42bn in 2017, as new housing revenues also increased by 4% to £3.55bn
Investments and investor services
FTSE 100 closed 40 points higher at 6,895, while the mid-cap FTSE 250 closed around 12 up at 18,429.
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The US bank adjusted target prices for a number of other sector players, cutting those for Taylor Wimpey, Crest Nicholson PLC, and Bovis Homes, but raising the target for Redrow
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Parliament will finally vote on Theresa May's Brexit agreement, but, before that, Persimmon, BooHoo, Hays and Games Workshop will have announcements for the market.
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Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Its stance on the sector as a whole as also become 'less negative'
Investments and investor services
The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day
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The UK blue-chip benchmark added around 45 points at 6,906, while FTSE 250 surged even higher.
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The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
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At the close, the FTSE 100 was down 71.93 points, or 1.1% at 6,773.24, just above the session low of 6,761.37 and well below the early high of 6,845.17.
The broker said with the housebuilding sector pricing in significant risk after a challenging 2018, it now presents an attractive potential value opportunity
Builders and building materials
In a note to clients, the broker upgraded Barratt, Bovis Homes, and Crest Nicholson to ‘Buy’ from ‘Hold’ off what it said was an upside of “at least 20%” if a smooth Brexit materialised
