Housebuilder Persimmon Homes claims it has managed to perform well in the first half of the year against the backdrop of the pandemic and subsequent material shortages.
In its latest trading performance report, the company explains how it has managed to tackle the material shortage by expanding its off-site brick plant and roof tile manufacturing hub at Harworth, near Doncaster, to strengthen the security of supply. The facility provides a significant proportion of these materials to Persimmon’s sites.
This complements its existing off-site manufacturing capability at Space4, which produces timber frames, insulated wall panels and roof cassettes as a modern method of constructing new homes.
In the report, Persimmon states that its build rates are continuing at pre-COVID levels and are focused on improving and achieving a resilient closing stock position at the end of 2021, and increasing availability and choice for its customers.
What’s more, the investment and management has helped the housebuilder to achieve a profit before tax of £480 million in the first half of 2021, with a private sales rate over 30% ahead of 2020. The increase reflects the unprecedented site shutdowns last year, which was also about 20% ahead of 2019.
The company also reported good forward sales of £2.23 billion, including legal completions in the second half so far, up 9% on the more normal trading year of 2019. Persimmon is therefore anticipating a 10% growth in sales completions this year with further growth to come.
>> Read more about Persimmon’s developments in the news here.
