The managing director of Thames Valley’s leading housebuilder has welcomed the group’s positive trading update and says that 2013 looks like being another good year for the region. Ian Menham spoke as Persimmon plc announced a trading update ahead of its final results for the year ending 31 December 2012, which will be released on 25 February 2013.
“As a group, we have increased the volume of new homes legally completed by 6%, our average selling price has also gone up by 6% and our revenues have increased by some 12%,” said Menham.
“The year has started strongly for us in the region, with Persimmon and Charles Church developments ongoing at Sovereign Fields in Bracknell, Queens Acre in Bushey, Turner’s Field and Old Mill Place in Little Chalfont, Laurel Place in Slough, Trinity Manor and Meadowbrook in Stotfold and Cumnor Ridge and Cumnor Heights in Cumnor Oxfordshire. We also have new developments opening this month at Tutors Gate Stoke Mandeville, and The Paddocks in Enstone with Chilworth Gate in Haddenham and St Andrew Gate in Uxbridge opening thereafter. The response from prospective purchasers is extremely positive and we’re confident that government schemes including NewBuy and FirstBuy will support our sales even further.”
Persimmon, together with sister companies Charles Church, Westbury Partnerships and Hillreed Homes, legally completed 9,903 homes last year (2011: 9,360). The average selling price was c. £173,400 (2011: £163,999), and revenues for the period totalled c. £1.72 billion (2011: £1.54 b).
Nationally, Persimmon has recently secured an additional allocation of c. 3,000 new homes as part of the FirstBuy funding, which Menham says will lead to further opportunities for first-time buyers in the region.
“As we look forward to the busy spring selling season, we’re sure that schemes like FirstBuy will offer many people that first vital step onto the housing ladder.”
Alongside its trading update, the group also announced a series of strategic personnel moves. Mike Farley, group chief executive will retire on 18 April 2013, with Jeff Fairburn, currently group managing director and north division chief executive, succeeding him. Nigel Greenaway, the south division chief executive, will join the board as an executive director with immediate effect. Dave Jenkinson, currently a regional chairman, is appointed north division chief executive.
Resources: Persimmon website
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