Persimmon PLC

Persimmon Plc is a holding company, which engages in building, designing, and construction of new homes. Its brands include Charles Church, Westbury Partnerships, Space4, Brickworks, and Tileworks. The company was founded by Duncan Henry Davidson in 1972 and is headquartered in Fulford, the United Kingdom.

Housebuilder Persimmon releases its first-half trading update on Thursday (6 July) with plenty of nervousness surrounding the sector. Latest housing data suggests demand is still reasonable but the impact of the recent mortgage rate rises has yet to be really felt Persimmon's share price has halved in a year due to the worries, which reflect the upward turn in interest rates and also an end to government support schemes such as the stamp duty tax break and Help to Buy.

Persimmon to reveal impact of mortgage rate hike in half-year update

Barratt Developments PLC

Housebuilders are facing a severe squeeze on profits and sales due to the rise in mortgage costs and interest rates, investment bank HSBC today warned Cutting its targets for a raft of sector stalwarts, HSBC said the sector is facing a “double dip in demand, further correction in house prices and a brutal squeeze on operating margin”. Up until this point, HSBC added it had been bullish on the major builders such as Barratt Developments, Bellway, Crest Nicholson, Persimmon, Redrow and Taylor Wimpey but had now reduced its stance to just ‘hold' across the board.

Housebuilders retreat again as HSBC warns of 'severe squeeze'

An update from Barratt Developments PLC (LSE:BDEV) comes after housebuilding rival Persimmon's hints of green shoots gave a lift to the sector. "Market conditions have continued to improve modestly over the last couple of months, although still well down on 2022 levels," said analyst Clyde Lewis at Peel Hunt.

Will Barratt Developments back up Persimmon's green shoots?

Persimmon PLC (LSE:PSN) reported a 42% fall in new home completions in the first quarter but said there were some signs of encouragement. The FTSE 100-listed housebuilder said in recent weeks visitor numbers are up, cancellation levels are normalising and sales rates continue the steady improvement evident since the start of the year.

Persimmon new home completions tumble 42%, some green shoots

Shares in housebuilders rose strongly following an upbeat research note from HSBC which believes the downturn in the housing market is more than priced-in to current share prices. Barratt Developments PLC (LSE:BDEV), Taylor Wimpey PLC (LSE:TW.

Housebuilders rise as HSBC sees housing downturn priced-in

The former boss of housebuilder Persimmon who landed one of the biggest bonuses in British corporate history has set up a new venture with his wife. Jeff Fairburn, who was ousted from the housebuilder after protests at his mammoth £82mln payout in 2018, has set up an investment company with his wife, Jayne, according to the Guardian.

Former Persimmon boss "Moneybags" sets up new venture

Persimmon PLC (LSE:PSN) shares have tumbled 46% in the last year and are likely to continue their downward trajectory, according to a leading American investment bank. Citi in a note out earlier on Monday repeated its ‘sell' advice on stock and didn't pull any punches in doing so.

Persimmon a 'sell', says American bank

Redrow PLC (LSE:RDW), Persimmon PLC (LSE:PSN) and Bellway PLC (LSE:BWY) were among housebuilders that agreed to repair unsafe cladding on Monday, following a government ultimatum to developers. Housebuilders were told to sign the cladding ‘remediation contract' by today, March 13 by levelling up secretary Michael Gove, or risk having permission for new developments blocked.

Housebuilders agree to fix cladding on deadline day after 2017 Grenfell tragedy

Persimmon Plc (OTCPK:PSMMF) Q4 2022 Results Conference Call March 1, 2023 4:00 AM ET Company Participants Dean Finch - Chief Executive Officer Jason Windsor - Chief Financial Officer David Jenkinson - Former Chief Executive Officer Conference Call Participants Will Jones - Redburn John Fraser-Andrews - HSBC AynsleyLammin - Investec Gregor Kuglitsch - UBS Sam Cullen - Peel Hunt Glynis Johnson - Jefferies Ami Galla - Citi Arnaud Lehmann - Bank of America Chris Millington - Numis Clyde Lewis - Peel Hunt Cedar Ekblom - Morgan Stanley Dean Finch Good morning, and thank you for joining us. I'll just say, as usual, a few words at the beginning before diving into the script.

Persimmon Plc (PSMMF) Q4 2022 Earnings Call Transcript

Investors in the housebuilding sector and homeowners alike may keep an eye on Taylor Wimpey results tomorrow after Persimmon shares fell more than 10% on the back of full year results. However, since October the stock has rallied by 30% as hopes that the biggest struggles to the UK housing market had passed.

Housebuilding sector braces for headwinds as Taylor Wimpey results to follow poor Persimmon earnings

Housebuilder slashes dividend as it warns of a difficult year ahead.

Persimmon Shares Tank 11%, Builder Becomes FTSE 100's Biggest Faller

It's only four years since Persimmon PLC (LSE:PSN) reported annual pre-tax profits of £1.1bn and pumped £75mln into its bosses bank account but today's results from the housebuilder show just how quickly things. A creaking housing market, rising mortgage rates, soaring build costs and subdued consumer confidence are all contributing to the FTSE 100-listed firms woes as is the ending of the lucrative Help To Buy scheme.

Persimmon creaks as end to Help to Buy adds to sector woes

Persimmon PLC (LSE:PSN) warned that a drop in expected completions in 2023 would hit margins as it reported a fall in annual pre-tax profits. The FTSE 100-listed housebuilder announced revenue in the year to December 31 of £3.82bn up from £3.61bn although pre-tax profits fell to £730.7mln from £966.8mln reflecting a £275mln increase in a provision for building safety remediation to £350mln.

Persimmon sees lower completions in 2023 denting margins

Hopes that Persimmon (Wed 1 March) and Taylor Wimpey (2 March) are over the worst of last year's housing wobble have added 23% and 41% respectively to their share prices since October. True, mortgages have started to come down after the chaos following Liz Truss's mini-Budget but plenty of concerns remain.

Persimmon and Taylor Wimpey prepare for life without Help-to-Buy

Persimmon is one of the largest homebuilders in the UK, operating in a favorable market structure. The business is resilient, time-tested, and has transformed into a vertical business since the great financial crisis in 2008.

Persimmon: Resilient Business At An Attractive Price But Not A Long-Term Investment

Drax Group (LSE:DRX) and Persimmon PLC (LSE:PSN) have been added to broker Liberum's UK value stocks portfolio, but the reasons could not be more different. One is seeing earnings outstrip its share price, while the other has seen its market value dwindle as profits have been reasonably steady.

Drax and Persimmon now value buys, suggests broker, but for very different reasons

Customer interest is returning to the UK housebuilding sector, but investors should temper their expectations for the time being, if the latest sector forecast from Barclays PLC (LSE:BARC) is anything to go by. There were some positive takeaways from the latest earnings season, including a surge in web traffic and a marked increase in sales team bookings.

Barclays on housebuilders: One swallow does not make a spring for Persimmon, Barratt Developments

Persimmon PLC (LSE:PSN) warned that higher mortgage rates, inflation, heightened market uncertainty and the end of Help to Buy in England had hit sales in the fourth quarter and will have an “adverse impact on the outlook for 2023.” “It is too early to predict when there will be a recovery in demand” the housebuilder said.

Persimmon PLC says it is too early to predict a recovery as fourth quarter sales slide

A gang of housebuilders are pencilled in for trading updates in the coming week, three of which are FTSE 100 companies and two are mid-sized. The sector has subsided badly under the tower of investor concerns about higher interest rates, lower mortgage availability, the end of Help to Buy and sagging consumer sentiment, twinned with rising industry costs and planning logjams (though some of the more optimistic analysts see this as a buying opportunity).

Can updates from Barratt, Persimmon and others rebuild sector confidence in coming week?

Persimmon PLC (LSE:PSN)'s warning today showed cracks are becoming firmly rooted in the UK housing market but why is the market so surprised? The FTSE 100 listed builder said that sales and prices of new build homes have fallen while customers pulling out of deals have increased with the news sending shares down nearly 7%.

Persimmon's warning shows cracks are appearing in the housing market but should surprise no-one

Stock in giant U.K. homebuilder Persimmon tumbled on Tuesday after the FTSE 100 company posted a drop in sales, scrapped its dividend and gave a grim outlook for next year's housing market.

Homebuilder Persimmon's shares hit by sales drop, warning over ‘deteriorating' economic outlook

Persimmon has witnessed a fall in sales and a sharp uptick in cancellations more recently.

FTSE 100 Stock Persimmon Slumps 7% As Update Reveals Sinking Housing Market

Persimmon PLC (LSE:PSN) took an extra building safety £350mln provision, reported an increase in cancellation rates and warned of falling house prices and margins in 2023. As a result, the FTSE 100 builder cautioned “it is too early for us to provide specific guidance for 2023 given the recent and rapid change in market conditions; our current expectation is for fewer legal completions than in 2022 and this together with a deterioration in average selling prices will have an impact on 2023 margins.

Persimmon reports rising cancellations and warns of falling prices and margins

Associated British Foods PLC (LSE:ABF) full-year results on Tuesday will be a mix of cost-of-living issues and soaring expenses balanced by a positive outlook statement and capital allocation, according to Shore Capital. Persimmon PLC (LSE:PSN) trading update will see plenty of focus on sales rates so far in its second half, especially in October as it will be the first housebuilder to report on this period.

Primark and Persimmon in Tuesday's spotlight

Persimmon Plc (LSE:PSN) trading update will see plenty of focus on sales rates so far in its second half, especially in October as it will be the first housebuilder to report on this period. In August, Persimmon said sales rates were down 11% compared to the prior year with an implied sales rate of around 0.7 per site per week.

News for Persimmon PLC Stock (PSMMY)