Persimmon Share Discussion Threads

[haroldthegreat] 26/7/2017 13:06

What is the likely cost to compensate victims of the lease scandal? If they have to cease leasehold houses ,this source of income will disappear along with the need to compensate .a double hit to profits. If the solicitors involved did not put in writing to their clients a warning re the lack of of freehold or a caution re the doubling of the cost at each review point they will be guilty of negligence. If the company offered a solicitor to the purchaser and the solicitor was negligent what happens then ?

[the_equaliser] 25/7/2017 14:33

Why not phone and ask then you can post

[ntv] 25/7/2017 13:22

if these involved in the leasehold scams then they should have the book thrown at them as well
need to make a public statement

[takeatip] 09/7/2017 07:56

Got it I was confused by the plan. Simple really they have planned to return dividends stated when and how much. On top of that there could be interm dividends. Don't ask me what I was thinking well over complicating things.

[effortless cool] 05/7/2017 21:03

A great update this morning.

This superb company is still stupidly underpriced. It is practically a cash machine, yet a share price of 2,580p would still only leave it on a 5% prospective yield.

[takeatip] 05/7/2017 20:29

How does the dividend work what is the capital return plan.

[the_equaliser] 05/7/2017 10:45

I look for words like "robust" or "excellent"

i,m glad CEO uses them now

Glad he reads Advfn
;o)

[dr_smith] 05/7/2017 10:05

As a trading update "outlook" is an add on, but would have liked to seen something more than the vague/generic comment. It gives the impression they just build and don't have any spreadsheets to plan and detail targets/expectations.

If I was working there I would have dynamicaaly linked spreadsheets so that figures could be had at the touch of a button.

[breaktwister] 05/7/2017 09:14

My trade of the year. Cashed in my leveraged bets this morning as planned but very happy to hold in my SIPP.

[the_equaliser] 05/7/2017 07:06

Another strong update

The Group's trading performance in the first half of the year has been excellent. We have increased legal completion volumes by 8% to 7,794 new homes (2016: 7,238). The 556 increase in new homes sold demonstrates the Group's drive to meet market demand in all its regional markets across the UK. Our average selling price improved by 3.5% to c. £213,000 (2016: £205,762). Revenue grew by 12% to reach £1.66bn (2016: £1.49bn).



We have continued to experience good levels of customer demand since the Group's AGM trading update on 27 April 2017, with the market taking the snap UK General Election in its stride. Consumer confidence remains resilient and compelling mortgage rates continue to offer good support to new home buyers. Group sales through May and June were healthy, leaving our weekly private sales rate per site for the first half c. 7% ahead of last year at 0.80 (2016: 0.75).



We expect the Group's strong trading through the first half of the year, including the contribution from 95 new sales outlets opened in the period, will lead to further good progress in our operating margin. We anticipate that the Group's operating margin in the first half of 2017 will comfortably exceed the 25.7% delivered in the second half of the prior year.



The Group has strong momentum moving into the second half of the year, with total forward sales value at 30 June 2017 of £1.60bn, 18% higher than last year (2016: £1.36bn) and a network of 375 active outlets. In addition, sales through the second half of 2017 will be supported by opening a further c. 100 new sales outlets despite the frustration of continued delays to site starts due to planning inefficiencies. We are developing all our sites for which we have secured detailed residential planning consent.



The Group has remained active in the land market with 47 new land deals for c. 9,300 new homes that will provide high quality returns in future periods. We have pulled through c. 3,000 plots from our strategic land portfolio within this total, representing 38% of our first half land consumption. Our land spend totalled c. £370m (2016: £305m).



A key feature of the Group's strategy is our commitment to return surplus capital to shareholders over the long term. On 27 February 2017 the Board announced an additional payment under the Group's Capital Return Plan ("the Plan") of 25p per share (or £77m) which was paid to shareholders on 31 March 2017. This raised the total value of the Plan to c. £2.85billion, or £9.25 per share, to be returned to shareholders by the end of 2021. This represents an increase of 49% over the original value of the Plan at launch in 2012. The scheduled instalment of 110p per share (or £339m) under the Plan was paid on 3 July 2017.



At 30 June the Group held £1,120m of cash (2016: £462m) prior to payment of the scheduled Capital Return of £339m on 3 July 2017.

[the_equaliser] 04/7/2017 09:32

Slighty below par for CPI,
But still shows strength in constructions
09:30 GBP Construction PMI (Jun) 54.8 55.0 56.0

[the_equaliser] 29/6/2017 16:56

Agreed !!!!

[breaktwister] 29/6/2017 14:41

Strange price behaviour given the very strong mortgage lending figures out earlier. Buying on this dip into trading update next week.

[the_equaliser] 29/6/2017 09:39

Time Cur. Imp. Event Actual Forecast prev
09:30 GBP Mortgage Approvals (May) 65.20K 64.00K 65.05K
09:30 GBP Mortgage Lending (May) 3.50B 2.60B 2.80B

[the_equaliser] 29/6/2017 06:52

If there were no shortages of houses by >200k
And
If i wasnt seeing PSN/Bdev selling houses on land(my previous employment)
And
Gouverment saying 2 billion spend + helping first timer buyers + low int rate
I would say the same

[rhomboid] 28/6/2017 18:18

I must admit I've held PSN before & I'd happily buy it again if I wanted exposure to the UK housing market..so thanks for keeping the thread alive as each time I click on it I review my stance ..which so far is to sit on the sidelines 🙂

[the_equaliser] 28/6/2017 16:34

My pleasure sir

agreed the company is selling itself
does not need us
:)

[effortless cool] 28/6/2017 13:03

I agree. I think they are a great company delivering consistently, hence no one wants to discuss them on ADVFN, so thanks for keeping the thread alive.

[the_equaliser] 28/6/2017 10:50

Effortless Cool

lols,
No ramping sir,
Just posting stuff int domain

Psn just delivering what they say,
And
based on shortages on property, i cannot see how they will / can go wrong
and
They building houses on land where i use to work and selling

Dyor / imo
:)

[effortless cool] 28/6/2017 09:49

The_Equaliser,

It's lonely work, ramping Persimmon, but you're doing a great job.

[the_equaliser] 28/6/2017 09:30

Time Cur. Imp. Event Actual ForecaPrevious
07:00 GBP Nationwide HPI (MoM) (Jun) 1.1% 0.1% -0.2%
07:00 GBP Nationwide HPI (YoY) (Jun) 3.1% 1.9% 2.1%

[the_equaliser] 26/6/2017 09:45

26 Jun Jefferies... 2,316.00 Hold

[the_equaliser] 26/6/2017 09:40

July 5th trading udate,
If aything like other builders,
I expect good/strong trading

imo / dyor