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LON100:PSN, Jun 06, 08:04 UTC

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Wednesday, April 29


News

Persimmon Share Price: Early Bounce Amid Return to Work Hopes

PSN

Housebuilder stocks: Persimmon bounces back with share price rise. As Persimmon assures shareholders that it will be returning back to business as usual shortly, the housebuilding giant saw its share price rise as markets opened on Monday. IG Analyst | 2020-04-29T13:53:06+0100. While all sectors of the UK economy have taken a beating as a result of the Covid-19 shutdown, the country's £110 billion construction industry has proven to be one of the worst affected in recent weeks. With economic activity grinding to a halt, and consumer spending reducing to a mere trickle, the UK's biggest housebuilding companies have faced a particularly bleak future as the country's real estate sector has effectively been suspended since late March. However, messages coming from Persimmon, the biggest housebuilder in the country, this morning suggest that the UK's beleaguered construction sector may finally be reaching a turning point. Persimmon assures shareholders of its resilience. Although Persimmon's modest gains when markets opened do not look like they will hold, it's clear that the company has been buoyed by recent reassurances the company made to shareholders.

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ig.com ig.com ig.com
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Friday, April 24


News

Persimmon becomes latest housebuilder to reopen construction sites

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Housebuilder Persimmon is to restart operations on its sites as construction firms return to work in the face of the coronavirus pandemic. Persimmon shut down its construction sites, sales offices and moved non-site staff to work from home on March 25. David Jenkinson, chief executive officer of Persimmon, said: “The UK Government has been very clear on the importance of the construction sector to the UK economy and its desire to see activity continue through the current period of crisis, provided appropriate public health measures are adopted. “Having spent the last month developing and testing new site protocols that incorporate the necessary social distancing and protective measures, we believe that we are now able to return to site safely and support the UK’s economic recovery from the pandemic.”.

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Wednesday, March 25


News

Persimmon and Bellway shut building sites as buyer demand set to ‘cliff-edge’

BDEV PSN +1 more BDEV PSN BWY

Housebuilders Bellway and Persimmon are shutting construction sites despite being allowed to stay open amid the lockdown as demand from new buyers plummets. Newcastle-headquartered Bellway said it was closing its 200 building sites by the end of Friday, with site managers only allowed onto developments to maintain security or to hand over keys to buyers. Bellway has already shut its sales offices and Persimmon is closing its sales network from Thursday, offering telephone and online-only customer support. Bellway chief executive Jason Honeyman told the PA news agency the decision to shut its construction sites in spite of being exempt from the Government-imposed lockdown came as a result of fears for worker safety.

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News

Persimmon, Countryside and McCarthy & Stone down tools

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Stop on construction follows Barratt and Taylor Wimpey decision, while Unite Group says it will continue to build. Persimmon, Countryside and McCarthy & Stone have followed the lead of rival housebuilders Barratt and Taylor Wimpey, by confirming they will shut down their sites in response to the drastic 'social distancing' measures introduced to tackle the coronavirus outbreak. "Construction sites are commencing an orderly shutdown with only essential work taking place which will be focused on making partly built homes safe and secure and where failure to complete the build could put customers in a vulnerable position." It added: "Our priority is the health and wellbeing of our employees, subcontractors and customers and we are making every effort to ensure that the group’s operating divisions, construction sites and sales offices are as safe as possible. "There is also a threat to liquidity across the wider economy and the Board is therefore taking immediate action to preserve the strength and resilience of the balance sheet. This includes a pause in new site acquisitions and a reprioritisation of production expenditure to focus on plots which are in the later stages of construction programmes."

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News

Persimmon and McCarthy & Stone to shut construction sites

PSN MCS

Persimmon has followed the lead of rival housebuilders Barratt and Taylor Wimpey, with the firm confirming it will shut down its sites. Persimmon said sites like this one near Harrogate, North Yorkshire, will shut down for the time being. The firm also announced that more than 300 newly completed apartments in unoccupied developments had been offered to help the government and local authority care providers to address the acute shortage of beds for older people during this period. And it said that its board and wider leadership team were taking a 20% pay cut from April 1 until further notice. It added: "Our priority is the health and wellbeing of our employees, subcontractors and customers and we are making every effort to ensure that the group’s operating divisions, construction sites and sales offices are as safe as possible. "There is also a threat to liquidity across the wider economy and the Board is therefore taking immediate action to preserve the strength and resilience of the balance sheet. This includes a pause in new site acquisitions and a reprioritisation of production expenditure to focus on plots which are in the later stages of construction programmes."

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News

Persimmon and Bellway shut building sites as buyer demand set to ‘cliff-edge’

BDEV PSN +1 more BDEV PSN BWY

Housebuilders Bellway and Persimmon are shutting construction sites despite being allowed to stay open amid the lockdown as demand from new buyers plummets. Newcastle-headquartered Bellway said it was closing its 200 building sites by the end of Friday, with site managers only allowed onto developments to maintain security or to hand over keys to buyers. Charles Church builder Persimmon confirmed it is also starting an “orderly shutdown” of its construction sites, following the lead of rivals Taylor Wimpey and Barratt Developments. Bellway chief executive Jason Honeyman told the PA news agency the decision to shut its construction sites in spite of being exempt from the Government-imposed lockdown came as a result of fears for worker safety.

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News

Persimmon and Bellway shutting construction sites

PSN BWY

Housebuilders Bellway and Persimmon are shutting construction sites despite being allowed to stay open amid the lockdown to help protect workers from coronavirus. Newcastle-headquartered Bellway said it was closing its 200 building sites by the end of Friday, with site managers only allowed onto developments to maintain security or to hand over keys to buyers. Bellway chief executive Jason Honeyman told the PA news agency the decision to shut its construction sites in spite of being exempt from the Government-imposed lockdown came as a result of fears for worker safety. It comes as pressure is mounting on Prime Minister Boris Johnson to order that all non-essential construction work is halted amid worries that workers travelling to sites will hamper efforts to stop the spread of coronavirus.

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News

Persimmon News Headlines. PSN Share News. Financial News Articles for Persimmon Plc Ord 10P updated throughout the day.

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LONDON MARKET PRE-OPEN: SSP Plans Equity Raise As Virus Halts Travel. In North America, sales are around 80% lower. For the month of March, SSP expects revenue to be down around 40% to 45% year-on-year, which will reduce group revenue by GBP125 million to GBP135 million and hit profit by GBP50 million to GBP60 million. "Whilst the board is disappointed in cancelling the 125p per share payment of surplus capital, the board does not believe it would be prudent at this time to regard this cash as surplus, and the cancellation reflects a change in the board's assessment of the company's financial prospects this year and the broader economic risk profile, in line with the stated policy," said Persimmon. "Whilst the company's regular annual payment of at least 110p per share has been stress tested for payment through the housebuilding industry cycle, the Covid-19 virus presents an exceptional set of circumstances," Persimmon said.

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Story Sources

lse.co.uk lse.co.uk
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Sunday, March 01


News

There's A Lot To Like About Persimmon Plc's (LON:PSN) Upcoming UK£1.25 Dividend

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Persimmon's upcoming dividend is UK£1.25 a share, following on from the last 12 months, when the company distributed a total of UK£2.35 per share to shareholders. Calculating the last year's worth of payments shows that Persimmon has a trailing yield of 8.3% on the current share price of £28.39. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! As a result, readers should always check whether Persimmon has been able to grow its dividends, or if the dividend might be cut. Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. Fortunately for readers, Persimmon's earnings per share have been growing at 17% a year for the past five years.

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Thursday, February 27


News

Persimmon boss steps down as housebuilder’s sales slide

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Persimmon saw revenue decline by 2.4% to £3.65 billion for the year after it sold 15,855 new homes, down 4% on the previous year. However, the firm also saw its average selling price increase over the period, rising to £215,709 from £215,563 in 2018. Persimmon said Mr Jenkinson will step down as chief executive in “due course”, after 23 years with the business. Julie Palmer, partner at Begbies Traynor, said: “Persimmon’s financials may be on a solid base currently, but the company’s reputation is continuing to show cracks as reports of customer complaints are rife for the housebuilder with concerns around its build quality. “This has ultimately led to Dave Jenkinson’s departure and his replacement will need to rebuild the company’s image in the wake of an independent review that reported a failure to install fire-stopping cavity barriers in properties causing a wave of customer complaints.”.

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