Persimmon PLC

PSN

Equity

ISIN GB0006825383 / Valor 400449

LSE London Stock Exchange, SETS (2026-07-24)

GBP 11.07+2.59%

Persimmon PLC
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About company

Persimmon PLC is a UK housebuilder that acquires and develops land and constructs new homes for private buyers and for affordable and shared-ownership schemes across England, Scotland and Wales; operating through regional businesses and well‑known retail brands (including Charles Church), it delivers a mix of apartments and family houses and works with housing associations and local authorities on affordable housing provision. The company manages the end‑to‑end homebuilding process — land procurement and planning, construction, sales and after‑sales service — and funds its operations through a combination of operating cash flow, customer deposits and capital markets; Persimmon is a publicly traded company listed on the London Stock Exchange.

Summarized from source with an LLMView SourceSector: Industrials

Financial headline

Underlying operating profit £472.1m (+17% YoY); underlying profit before tax £445.6m (+13%); statutory profit before tax £397.3m (+11%). New housing revenue £3.31bn (+16%) and blended average new home selling price £278,203 (+4%). Underlying operating margin 14.3% (+20bps).

Volume and sales

Completions 11,905 homes (+12%). Private completions 9,830 (+8%). Private forward sales at 1 March 2026 £1.25bn (+9% YoY) and total forward sales £1.80bn (+6%). Early 2026 net private sales per outlet up (first nine weeks: 0.73, +9% YoY).

Balance sheet and cash

Cash at 31 December 2025 £117.0m (down from £258.6m). Cash from operations £487.9m. Land creditors increased to £623.4m. Group expanded secured facilities to £1.0bn (RCF increased to £750m plus a £250m term facility).

Land, outlets and capacity

Plots owned/controlled 84,879 (+3%). Strategic pipeline >77,000 potential plots (+10%). Outlets 277 (+3%) and plans to open >100 outlets in 2026, targeting at least 300 outlets medium term. Net land spend £541m in 2025.

Return metrics and EPS

Underlying ROCE (including land creditors) 11.7% (+60bps). Underlying basic EPS 100.7p (+9%); reported basic EPS 89.3p (+7%). Dividend maintained at 60p per share for FY2025 (final 40p proposed).

Building safety and exceptional items

Legacy buildings provision at 31 Dec 2025 £226.0m (utilised £56.1m in year); further remediation spending expected with ~£100m anticipated in 2026. Net exceptional charge £44.9m in 2025 (includes remediation provision increase and a £15.2m CMA/Affordable Homes contribution); sale of FibreNest generated £11.1m profit.

2026 outlook

Assuming the Iran conflict impact is short, Persimmon expects 12,000–12,500 completions in 2026, underlying operating profit towards the upper end of company‑compiled consensus (£486m–£517m) and underlying PBT broadly in line with consensus (~£470m) after higher finance costs. Net cash at end‑2026 forecast between £100m net debt and £100m net cash.

Summarized from source with an LLMView Source

Key figures

-7.60%1Y

-6.74%3Y

-61.5%5Y

Performance

32.4%1Y

32.4%3Y

34.2%5Y

Volatility