Profits rise 25%
Persimmon reports resilient housing market
House building market is ‘resilient’
Persimmon has posted a 25% increase in underlying pre-tax profits to £977.1m amid a ‘resilient’ housing market.
It has recommended a final dividend of 110p a share.
The company said that during the year “the new build housing market was supported by resilient consumer confidence and a competitive but disciplined mortgage market.”
Acting chairman Nigel Mills said the company “is well placed to deliver a further increase in new home construction across the UK in 2018 where the local planning environment allows”.
The company has faced criticism over the size of payments to senior staff under a contoversial incentive scheme.
Chief executive Jeff Fairburn has accepted a £25m cut to his bonus, although he will still receive £74m.