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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Persimmon's warning shows cracks are appearing in the housing market but should surprise no-one
The FTSE 100 listed builder said that sales and prices of new build homes have fallen while customers pulling out of deals have increased with the news sending shares down nearly 7%.
Builders and building materials
Persimmon reports rising cancellations and warns of falling prices and margins
The FTSE 100-listed housebuilder said given the recent and rapid change to market conditions it was too early to provide specific guidance for 2023 but it expects fewer completions for 2022 and lower house prices in 2023 will hit margins
Builders and building materials
Persimmon investors to focus on sales numbers
The builder delivers its trading update on Tuesday.
Builders and building materials
Barclays believes that the European homebuilding market is headed for a "Soft landing, not a crash"
The comments came as the bank's analysts initiated coverage on the European Homebuilding sector with a 'Negative' industry view
Builders and building materials
UK housebuilders ‘more snakes than ladders’ as shares slide on mini-budget
Rising mortgage rates likely to set back expected stability in the market
Builders and building materials
Growth in UK house prices slowed in August with further weakness expected - Nationwide
The pace of growth in UK house prices slowed in August according to building society, Nationwide.
Builders and building materials
UK house sales higher in July, but is 'only a detour'
Bumper summer for property is a 'detour not a change of direction' says one analyst
Builders and building materials
Persimmon interim profits hit by escalating costs and supply chain disruption
Persimmon however said it mitigated some material shortages through its Brickworks and Tileworks factories
Wednesday's news: Inflation again along with Persimmon and Balfour Beatty
Headlines will all be about inflation again tomorrow with Persimmon investors wanting some reassurance after an iffy trading update recently
Builders and building materials
Can Persimmon build its way out of the doldrums?
Housebuilder valuations are at their lowest since 2013, according to Credit Suisse
Builders and building materials
Persimmon shares drop as completions hit by supply chain woes, planning delays
The housebuilder said house price inflation is offsetting rising build costs and forecast half-year profit slightly above expectations
Builders and building materials
Persimmon and Vistry updates to show if investor scepticism is justified
Peel Hunt says it expects a strong update from both companies
Builders and building materials
Cladding to the fore as housebuilders Taylor Wimpey and Persimmon update
Both housebuilders have signed Michael Gove's building safety pledge
Builders and building materials
Gove warns builders of 'consequences' for swerving cladding pledge
Attention will now switch to cladding and insulation companies to get them to sign up
Builders and building materials
Rug pulled from housebuilders as JP Morgan flags cladding and inflation concerns
The US bank has cut its 2023 earnings targets across the sector by 5%.
Builders and building materials
Michael Gove continues frosty relationship with the housing sector
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
Housebuilders lifted by reports that cladding replacement bill may be significantly lower than expected
The House Builders Federation hired PwC to calculate an estimate of the costs to remedy unsafe cladding on buildings between 11m-18m high.
Persimmon shares promising an inflation-busting yield of 9.3%
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 raises sales but warns of economic impact of Ukraine conflict
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
Persimmon sympathetic to UK government's cladding plans
“We have constructed only a very small proportion of buildings affected by this issue”
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
Builders and building materials
Searching for safe dividend income among London's blue-chips
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
Persimmon sees bumper July as house sales rebound
Prospects are sufficiently encouraging to recommend a 40p interim dividend
Archive
FTSE 100 finishes higher Monday as miners boosted, pandemic fears remain
Britain's blue chip benchmark finished up over 37 points, or 0.61%, at 6,127
Archive
Housebuilder Persimmon, trio of miners and delayed results from Frasers key corporate news for coming week
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
Persimmon to re-evaluate final dividend as forward sales rise ahead of last year
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
Persimmon buses in new boss from National Express
Analysts at broker Peel Hunt said the timing of the CEO departure from the coach operator "is a surprise"
Builders and building materials
Persimmon and MJ Gleeson to re-open sales offices in England
Persimmon offices and sites remain shut in Scotland
Builders and building materials
Persimmon keeps cash coffers topped up through coronavirus lockdown
Analysts said that the resilience of cash flow was “surprisingly strong”
Persimmon to re-open sites next week as housebuilders return to work
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
Persimmon cancels one dividend payment and postpones another
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”
Housebuilders: watchdog slams leasehold mis-selling and unreasonable fees
No companies were named in the report, though several FTSE names have been criticised over the issue in the past
Persimmon boss to step down as reputation 'reset' continues
The housebuilder said the promised total capital returns of £2.35 per share in 2020 will be extended at the same level in 2021
Persimmon keeps schtum over cash plans as the housebuilder's sales slow
The FTSE 100-listed firm's expects group pre-tax profits to be in line with market consensus
Archive
US-China trade deal to dominate global markets on Wednesday, while in the UK inflation data and housebuilder updates hold focus
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
Persimmon, Taylor Wimpey and Countryside top picks for Berenberg as housebuilders “open for business again” following December election
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
Tory election victory to provide boost for housebuilders, says Canaccord, except McCarthy & Stone
The broker highlighted Persimmon and Barratt as firms with healthy dividend yields, while Redrow and Bellway offered greater growth potential
Persimmon, Redrow, Berkeley to remain solid despite uncertainty, says UBS
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"
Persimmon takes its time over new builds, shrinking sales
As part of a plan to improve build quality and customer care, completed sales volumes sank 6% year-on-year to 7,584 homes
Housebuilders shaken as Parliament criticises Help to Buy scheme
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
Why words are cheap and American bosses are out of touch
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
Persimmon profits fall in first half as reputation rebuild takes priority
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
FTSE 100 starts week in positive mood; Ocado top gainer
The US government's move to allow Huawei 90 days to keep buying from US suppliers has added to the positive mood
Persimmon to post lower profits as it tries to move on from build quality complaints
Another relatively quiet week of financial news is expected
Persimmon’s exposure to first-time buyers and the north gives it advantage over housebuilder peers
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
Housebuilders' pay big yields but do they offer value any more?
“Given the attractive yields on offer, the question of sustainability becomes more hazy the further out you look”
Builders and building materials
Blue chip builders boosted as housing market brightens up according to surveyors report
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
FTSE 100 closes a tad lower as traders are not sure which way to jump
The UK's premier share index finished nearly four points lower at 7,549
Investments and investor services
FTSE 100 closes in red on day but higher over the week as US jobs rebound in June
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%.
Persimmon's revenue falls as it works to improve customer satisfaction
“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
FTSE 100 closes a shade lower as markets uninspired; US celebrates Independence Day holiday
The Footsie finished down nearly six points at 7,603
Archive
Will poor weather have knocked sales at AB Foods clothing stores flagship Primark?
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
FTSE 100 closes higher on day and week as world leaders meet
The mid-cap FTSE 250 added over 147 points to close at 19,462 on Friday
Archive
FTSE 100 closes near flat as global markets appear uninspired
Footsie closed up nearly a point at 7,368, while mid-cap cousin FTSE 250 shed over 77 points at 19,172
Archive
Tesco’s first quarter set to face tough comparisons
Tesco, DS Smith and PZ Cussons are the standout names in Thursday's diary.
Archive
Tesco to provide the nibbles as the markets continue to eye US trade and Tory leadership battles
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
High FTSE yields point to 'dividend slaves' that may cut payouts
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'
Persimmon sales reservations fall amid customer relations push
Housebuilder's forward sales revenue are down 4% and the weekly private sales rate per site was 5% lower
Archive
FTSE 100 closes firmly lower as investors shun risk and amid Brexit deal chatter
The UK's premier share index finished down nearly 33 points at 7,385
Archive
Will Next spring a surprise in Wednesday’s first-quarter trading update?
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
Absence of provisions makes Bellway stand out from rival UK housebuliders
Many UK housebuilders have had to put aside money to tackle issues such as poorly built homes and Grenfell Tower-style cladding
Persimmon and Barratt Developments among those flying higher after a triple dose of good news for the builders
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
Crest Nicholson drops as JPMorgan Cazenove cuts its target price in sector review, noting near 20% rise in year-to-date
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 to let customers withhold 1.5% of house prices until housebuilder resolves faults
"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
Archive
FTSE 100 closes higher at traders focus on Federal Reserve's dovish tone
The FTSE 250 though, seen as a better indicator of the state of UK companies, closed down around 41 points at 19,347.
FTSE 100 closes lower after European Central Bank strikes downbeat note
"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
Archive
Insurers Aviva and Admiral in Thursday’s results spotlight
Results from Aviva, Admiral, Greggs and Premier Oil are all in the diary for Thursday.
FTSE 100 closes lower as Brexit is talk of the town
Footsie closed down around 32 points at 7,151, while the FTSE 250 added 23 at 19,270
Archive
Standard Chartered to wrap up recent flurry of big bank results with charge-blurred numbers
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
Persimmon shares hit by reports government may ban housebuilder from Help to Buy scheme
“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
FTSE 100 closes higher but only just as sentiment boosted by trade progress
The UK blue-chip index finished around five points ahead at 7,183
Housing building triumvirate, Persimmon, Taylor Wimpey, and Bovis Homes to post 2018 results
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
Crest Nicholson weak as Redburn downgrades in otherwise positive UK housebuilding review
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"
Persimmon expects 2018 profits to be modestly ahead of market consensus, thanks to new developments
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 closes higher as attention focuses on House of Commons vote
FTSE 100 closed 40 points higher at 6,895, while the mid-cap FTSE 250 closed around 12 up at 18,429.
Archive
Countryside Properties weak as JPMorgan cuts to ‘underweight’ on valuation grounds in upbeat housebuilders review
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
Archive
Persimmon and Boohoo will be in focus but Tuesday will be about Brexit
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.
Archive
Brexit, UK inflation the main focus but retail and housebuilder updates continue to flow
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
Persimmon and Taylor Wimpey flourish after American bank issues 'double-upgrades'
Its stance on the sector as a whole as also become 'less negative'
Investments and investor services
FTSE 100 closes in red but nudges higher on the week; housebuilders gain on day
The UK blue-chip benchmark closed down around 24 points at 6,918, while FTSE 250 added nearly 107 points on the day