Coronavirus Update

Persimmon PLC- Full year Results 2020

This content has been sourced from: https://www.investegate.co.uk/persimmon-plc--psn-/...

Financial Highlights

 

2020

2019

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

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