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Persimmon H1 Profit Climbs On Higher Home Completions; Backs FY21 Outlook - Quick Facts

Housebuilder Persimmon plc (PSN.L) reported Wednesday that its first-half profit before tax climbed to 480.1 million pounds from last year's 292.4 million pounds.

Underlying operating profit was 483.0 million pounds, compared to last year's 293.2 million pounds.

Total Group revenues increased to 1.84 billion pounds from prior year's 1.19 billion pounds.

New home completions surged to 7,406 units from 4,900 units last year. New home average selling price was 236,199 pounds, up from prior year's 225,066 pounds.

The company plans to open around 85 new outlets in the second half.

Looking ahead, the company continues to expect about 10 percent growth in sales completions this year from last year's 13,575 legal completions.

Forward sales of 2.23 billion pounds, including legal completions in the second half so far, are up around 9 percent on the more normal trading year of 2019.

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