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Persimmon HY Revenues Down

British house building company Persimmon plc. (PSN.L) reported that its total revenues for the first six months of 2020 declined to 1.19 billion pounds from 1.75 billion pounds in the prior year.

Housing revenues for the first six months of 1.10 billion pound were 33% lower than the prior year, with new housing legal completion volumes of 4,900 compared to 7,584 last year.

The Group expects to continue to take a highly selective approach to land replacement, with only those opportunities that can meet strict criteria being considered.

The company stated that it entered the second half in a strong position, with work in progress well advanced, forward sales 15% ahead year on year, and cash holdings of 830 million pounds.

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