Persimmon PLC- Full year Results 2020
This content has been sourced from: https://www.investegate.co.uk/persimmon-plc--psn-/...
Financial Highlights
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2020 |
2019 |
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New home completions |
13,575 |
15,855 |
|
New home average selling price |
£230,534 |
£215,709 |
|
Total Group revenues |
£3.33bn |
£3.65bn |
|
New housing revenues |
£3.13bn |
£3.42bn |
|
Underlying new housing gross margins1 |
31.0% |
33.1% |
|
Underlying profit before tax2 |
£863.1m |
£1,048.1m |
|
Profit before tax |
£783.8m |
£1,040.8m |
|
Cash at 31 Dec |
£1,234.1m |
£843.9m |
|
Land holdings at 31 Dec - plots owned and under control |
84,174 |
93,246 |
|
Current number of developments across the UK |
c. 300 |
c. 345 |
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Current forward sales position |
£2.27bn |
£1.98bn |
|
Net assets per share |
1,102.7p |
1,021.7p |
|
Return on average capital employed3 |
29.4% |
37.0% |
|
Dividend |
110p per share in the year |
235p per share in the year |
|
Trading performance |
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Persimmon has achieved a resilient trading performance for 2020, the year including the period of maximum disruption with the outbreak of the Covid-19 global pandemic |
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The Group's average private weekly sales rate per site for 2020 was 12% higher year on year reflecting good stock availability coming into the year and strong customer demand |
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Average selling prices increased by 6.9% reflecting the 6.5% increased proportion of homes sold to owner occupiers during the year |
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2,212 new homes were delivered to our Housing Association partners in 2020, representing 16% of new homes sold (2019: 3,392 homes, 21% of new homes sold) |
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£1,067m of net cash generation before capital returns of £351m and net land spend of £326m |