Persimmon Makes £1Bn Profit

In its Final Results for the year ended 31 December 2018 housebuilder Persimmon plc reported that group revenue increased 4% over 2017 to reach £3.74bn and that operating profits increased 13% to reach £1.083bn.

Persimmon said it was confident about the future despite the unpredictability of Brexit and added that measures to improve customer satisfaction were showing encouraging results.

The company separately announced the appointment of Dave Jenkinson as Group Chief Executive. Jenkinson had been acting on an interim basis since the departure of Jeff Fairburn following the dispute over his bonus entitlement.

Roger Devlin, Group Chairman, said: “Persimmon is changing. In his short time as interim CEO Dave Jenkinson has introduced new approaches to customer satisfaction and colleague engagement, whilst also ensuring that the Group delivered another year of growth. These changes are illustrative of wider efforts across the Group to evolve our processes and practices to pursue excellence across all aspects of our business. Achieving further progress with these initiatives will be a key priority for Dave in his new post as CEO. The Board remains confident in the Group’s long term prospects.”

Disputes over bonuses and the way the company has benefitted from the Help to Buy scheme have put Persimmon in the news for all the wrong reasons of late. So while news that profits have topped £1bn may please shareholders it is likely to fuel further controversy elsewhere.

Source London Stock Exchange
You might also like