Persimmon PLC

Latest Results (20.11.2025):

Persimmon PLC — Q3 2025 trading update (period from 1 July 2025 to 2 November 2025). The company reports continued growth in a challenging market: forward sales are up, sales rates and outlet numbers have increased, land holdings and planning approvals have grown, and the business remains on track to deliver full‑year 2025 performance in line with market expectations.

Forward sales and order book

Total current forward sales rose 15% to £2.79bn (2024: £2.42bn), with private forward sales up 15% to £2.09bn (7,084 homes vs 6,256). 83% of expected 2025 private deliveries are already exchanged or completed.

Sales rate, volumes and pricing

Net private sales per outlet per week increased to 0.76 (up 9% on 2024) — 0.63 excluding bulk — and total sales per week rose 14 to 208 (2024: 183). Private average selling price in the forward book is c.£295,150 (up c.1.5% year‑on‑year); incentives remain around 4–5%.

Outlets, brands and product initiatives

Average sales outlets increased 4% to 272 (2024: 262). Persimmon expanded its Charles Church brand (7 new Charles Church sites) and launched a second shared equity product, Rezide, complementing New Build Boost to address affordability.

Land, planning and investment

Owned and controlled land holdings rose c.3% to c.83,800 plots (30 Sep 2025). Land spend year‑to‑date was £336m (Q3 £127m), and detailed/reserved matters approvals totaled 7,753 plots in the year to 30 Sep (2024: 7,175), supporting outlet and volume growth.

Cash, costs and short‑term outlook

Persimmon expects a year‑end cash balance of between £0m and £200m and will continue investing in future capabilities in 2026, which will raise financing costs short term. The group remains on track to meet 2025 market expectations (company consensus: ~11,293 homes and underlying PBT £429m).

Risk items and remediation

The company notes market sensitivity to macro uncertainty (including the upcoming Government budget), ongoing affordability constraints, and continued progress on fire safety remediation, with the bulk of works expected to complete over the next two years.