Persimmon’s shares climb on upbeat trading notice

Persimmon’s shares rose 3% yesterday (5 July) on the back of a positive trading notice, in which the housebuilder described its trading performance in the first half of the year as “excellent”.

Persimmon increased legal completion volumes by 8% to 7,794 new homes in the six months ended 30 June. The average selling price improved by 3.5% to c. £213,000.

“We have continued to experience good levels of customer demand since the Group’s AGM trading update on 27 April 2017, with the market taking the snap UK General Election in its stride,” the housebuilder said. “Consumer confidence remains resilient and compelling mortgage rates continue to offer good support to new home buyers.”

The Group said it has strong momentum moving into the second half of the year, with total forward sales value at 30 June 2017 of £1.60bn, 18% higher than last year (2016: £1.36bn) and a network of 375 active outlets.

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