Persimmon Q1 Total Forward Sales Revenue Up 8% - Quick Facts

(RTTNews) - UK-based home builder Persimmon Plc. (PSN.L), in its trading update covering period from 1 January 2018 to date, said that total forward sales revenue, including legal completions taken to date in 2018, was 2.76 billion pounds, 8 percent higher than last year's 2.56 billion pounds. The company issued the trading update ahead of its Annual General Meeting later today.

The company noted that its weekly private sales rate per site since the start of the year was 0.85, compared to 0.83 in 2017, reflecting solid market conditions.

Persimmon said it has 9,048 new homes sold forward into the private ownership market with an average selling price of 236,500 pounds, compared to 8,928 new homes sold forward into the private ownership market with an average selling price of 229,500 pounds in the prior year.

The Group added that it has also maintained a substantial forward order book of new homes for delivery to its Housing Association partners, with 5,330 new homes included in our forward sales position, compared to 4,616 in 2017.

Looking ahead, Persimmon's board said it remains confident of the future prospects of the Group.