Persimmon Share Discussion Threads

[barlick] 14/11/2011 16:53

jonwig

'No. PSN didn't have a fundraising. A part of the fear at the time was that they would need one, but I think only Taylor Wimpey and Barratt did it.'

Thank you I appreciate your post

[jonwig] 13/11/2011 16:39

No. PSN didn't have a fundraising. A part of the fear at the time was that they would need one, but I think only Taylor Wimpey and Barratt did it.

[barlick] 13/11/2011 16:25

May I ask if PSN had a rights issue post 2008 in order that I can look at graphs & trust historic prices?

If I look at 5 year graphs are there rights issue adjustments to be made?

Hope you can/will help

[jonwig] 08/11/2011 08:05

It is a favourable IMS. This bit:

We have maintained good free cash generation whilst ensuringthe appropriate level of capital is reinvested in the business and now anticipate having net cash at the year end to support our future growth.

suggests they coud increase the dividend to a less stingy number (at least 10p), though they don't say anything about that!

[theophilus] 08/11/2011 07:10

Looks quite favourable - without being over enthusiastic



Th.

[lochgarman] 28/10/2011 21:07

A long term uptrend well and truely established here.

Highest closing price in at least 3 months.
200 day moving average in uptrend and the price well above this.

:-)

[theophilus] 27/10/2011 08:44

Chart continues to look really promising - smashed thro' the 500 mark.

Th.

[theophilus] 24/10/2011 19:09

Charts are looking promising on this one - - - testing the highs of the last few hears.

Looking forward to further progress.

Th.

[theophilus] 12/10/2011 17:04

Not exactly up to date news. But relevant for the house building industry generally---------------------------------------------------------------------------------------------------

U.K. Mortgage Approvals Climb More Than Forecast to 20-Month High on Rates

Q
By Scott Hamilton - Sep 29, 2011 12:35 PM GMT+0100 .

...
U.K. mortgage approvals rose in August to the highest in 20 months as borrowing costs at a record low helped provide support to the housing market.

Lenders granted 52,410 loans to buy homes, the most since December 2009, compared with a revised 49,644 in July, the Bank of England said today in London. Economists forecast that approvals would rise to 49,700 from an initially reported 49,239 in July, based on the median forecast of 18 economists in Bloomberg News survey.

The Bank of England kept its benchmark interest rate at 0.5 percent this month, which Nationwide Building Society said today should help support demand for property. Still, it reported that U.K. home prices were little changed in September and said "downside risks" to the housing market have increased due to the economic slowdown.

"Low interest rates continue to provide support for prices by preventing widespread forced sales," said Robyn Daniell, an economist at Capital Economics in London. Still, "mortgage lending remains at a subdued level. We doubt this marks the beginning of a new trend. Against the deteriorating wider economic outlook, further house price falls are likely."

Mortgage lending rose by 600 million pounds ($940 million) in August from July, when it increased by 700 million pounds, the Bank of England said. Consumer credit rose by 500 million pounds.

Housing Momentum

The pound was trading at $1.5643 as of 12:08 p.m. in London, up 0.4 percent on the day.

The Bank of England has set its benchmark rate at 0.5 percent since March 2009. Still, the property market has struggled to gain momentum as the cooling recovery, accelerating inflation and government budget cuts weaken consumer confidence. While mortgage approvals increased last month, the reading is only about half the monthly average in the decade to 2007, before the financial crisis struck.

The Bank of England said in a report yesterday based on a survey of lenders that the availability of secured credit to households increased in the three months to early September, as did demand for mortgages. It added that banks "pointed to adverse wholesale conditions as a key factor which might constrain future lending" to households and companies.

Bank Funding

Nationwide Chief Economist Robert Gardner also highlighted the increase in bank funding costs as a possible constraint on housing. Low borrowing costs "should continue to provide support for housing demand, providing the strains in the banking system do not intensify," he said in a statement today.

Nationwide's report showed that the average cost of a home rose 0.1 percent in September from the previous month and was down 0.3 percent on the year.

U.K. economic growth slowed in the second quarter and recent indicators of consumer confidence, manufacturing and services have all weakened.

Deteriorating prospects prompted Bank of England official Ben Broadbent to say this week that he was "reasonably close" to joining Adam Posen in voting for more bond purchases at this month's Monetary Policy Committee meeting. Fellow MPC member David Miles said the argument for more QE is "finely balanced" in an interview published in the London-based Times newspaper yesterday.

A measure of M4 money-supply growth the bank uses to assess the effectiveness of its asset purchases slowed to 2.3 percent in the three months through August on an annualized basis, today's report said. That compares with a 3.7 percent rate in the three months through July. The gauge excludes financial companies that specialize in intermediating between banks, such as holding companies and non-bank credit grantors.

Total M4 fell 0.2 percent on the month in August and was down 0.6 percent on the year, the Bank of England said.

To contact the reporter on this story: Scott Hamilton in London at [e-mail]

To contact the editor responsible for this story: Matthew Brockett at [e-mail]

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Th

[theophilus] 26/9/2011 08:17

LEISURE facilities will get a £1.5million boost when a new 1,600-home community is built in the east of Plymouth.

The £280million scheme to redevelop Plymstock Quarry will bring dreams of a swimming pool for Plymstock a step closer.

​
.Exeter-based Persimmon Homes has been given outline permission to build a new community, to be called Morley Park, on the old Plymstock cement works and quarry site, off Billacombe Road, Plymouth.

Eventually the 180-acre Morley Park will include 1,684 new homes, including at least 208 affordable and 357 built to Lifetime Homes standard. Building work will take an estimated 15 years.

The proportion of affordable homes was reduced to 12.5per cent under the city's market recovery action plan.

The new community will have a primary school with community facilities, and a doctor's surgery. Shops on the main square will include a 2,000 square metre supermarket. Land will be set aside for workshops and employment uses.

The developer's contributions to local infrastructure include £1.5million for sports provision, including £420,000 towards a swimming pool for Plymstock, to be built by the developers of the nearby Sherford new town.

Council leader Vivien Pengelly, who represents Plymstock Dunstone, said: "That is superb news. Getting a pool has taken a long time.

"I was disappointed when the first possible site, off the Broadway, was turned down by the planning committee in 2003."

Mrs Pengelly also welcomed Persimmon's agreed contribution of £15,000 for Plymstock library and £310,000 for cycling.

"Anything that supports cycling is good," she said.

Anne Tolley, vice-chair of the Plymstock and District Public Swimming Pool Association, said they had been told that a stand-alone pool would cost about £4million.

The association was set up in 1993, and has raised hundreds of thousands of pounds towards a pool, which would be used to provide extras like facilities for the disabled, she said.

Most of the campaigners were now in their 70s, but she said: "We're all keen to keep going because we have grandchildren and we want it for them. We'll carry on even if we have to go along with our Zimmer frames."

A second developer, Red Tree, is planning to build a new town of 5,500 homes at Sherford, to the east of Plymstock Quarry.

Red Tree has agreed to build a swimming pool on the boundary with Elburton at the same time as the 701st new house, two to three years after work starts.

The start has been held up by negotiations with South Hams District Council over how much Red Tree must pay in developer contributions.

A Plymouth City Council spokeswoman said the contributions by Persimmon would ensure that the impact of the extra population in Morley Park would be offset using contributions from the developer to increase local facilities.

"The £420,000 towards a swimming pool in Plymstock relates to the pool allocated for the Sherford development that will be based in Elburton."

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Th.

[lochgarman] 24/9/2011 21:38

Th...thanks for the posts. LG

[theophilus] 23/9/2011 08:27

Buoyant sales for homes in Burnham on Sea
19th September 2011 Print Email Share

The lure of living in a coastal setting has proved hard to resist among homebuyers in Burnham on Sea, so much so that just one home now remains for sale at Persimmon Homes' Berrow Court development.

And success is something Persimmon Homes is used to – the news that Berrow Court is down to the final collection of properties follows hot on the heels of the company's upbeat half year results which announced that the company recorded pre-tax profits of £59.7m for the six months to 30th June 2011.

"With just one home now for sale at Berrow Court, it won't be long until the site draws to a close," comments Nicola Reed, sales director for Persimmon Homes Severn Valley.


She continues: "Berrow Court has the ideal blend of development must haves - quality designs, competitive price tags and a stunning seaside location. The fact that we are down to the final property means buyers clearly recognise this winning combination."

The final property is available with Persimmon's 75/25 Shared Equity incentive. Under the Shared Equity banner, this home is currently priced from just £169,995.

For further information on the last remaining homes at Berrow Court, visit the marketing suite open Thursday to Monday from 10am until 5pm. Alternatively, visit persimmonhomes.com.

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Th.

[theophilus] 23/9/2011 08:22

OXFORD MAIL

News RSS Feed

Grove wants answers over 2,500 homes
1:00pm Thursday 22nd September 2011

PrintEmailComments(0)
Grove is being kept in the dark over a major 2,500 home development, councillors say.

The Grove airfield scheme will double the village's population to 16,000 and provide road infrastructure, primary schools and a secondary school.

But the plan has already been delayed by five years and developer Persimmon Homes has refused to say when it will submit a planning application.

Some 500 of homes were supposed to be built by this year as set out in Vale of White Horse District Council's Local Development Framework.

A further 1,000 were to be built by 2016 and the final 1,000 by 2021.

The 140-hectare site west of Grove is the council's most important scheme for meeting housing demands as it will include affordable housing in 1,000 of the homes.

The council is hoping to pressure the developer to bring the application forward as there are currently 2,370 households on the waiting list.

Grove Parish Council chairman Frank Parnell, pictured left, said: "It is just frustrating. Our view has always been we don't want just a partof the development. We want it all and with it the infrastructure we are lacking at this Time"

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Th.

[theophilus] 09/9/2011 08:22

Moving steadily up after the results. That's in keeping with this sector in general. The outlook is positive and as long as it continues than we should see this one continue to move North.

Unfortunately so much depends on external factors such as the economy in general and the bank barons in particular. But I am continuing to hold and may be persuaded to add if the upward movement continues.

Th

[bigbertie] 23/8/2011 09:12

Good interims today. Underlying profit up, dividend up, net debt well down, NAV per share 601p (compared to share price 392p just now), landbank up to more than 6 years sales at present rate.
The problem is that sales are still low. But they are very strongly placed for a recovery in sales, and one of the best bets in the housebuilding section IMHO. I hold the shares.

[sofa spud] 01/8/2011 21:02

I looked at a Persimmon house the other day. It was actually quite nice.

[moneybags] 20/7/2011 14:34

This a great little trading share today, It's all ver the place.I have bought it, sold it, and bought it back again since 8am

Dow Jones futures is helping this happen today.

Regards , Moneybags

[cw2000] 04/5/2011 20:53

xd (final) today.
4.5p to be paid mid June

[moneybags] 01/3/2011 16:23

Agree, These are now a 'bottom drawer' share.
No quick shot up to £6.00+ but they will get there in their own time.
It will beat money sitting on deposit earning 2% to 3% interest,I think we all know that.

Regards , Moneybags

[choffter] 01/3/2011 14:30

Jonwig - cheers for that.

[atvt] 01/3/2011 12:51

Jeffian, I agree with much of what you are saying. I not implying that these are about to shoot up to 600p in the coming months, merely that I am happy to put these in the bottom draw and add more during any dips. Long term is the time frame I'm working to and I think these will do handsomely.

[jeffian] 01/3/2011 12:37

Isn't the answer that a lot of the recovery is already in the price? If you take the "underlying" eps (i.e. with exceptionals stripped out), they are trading on a PE ratio over 18x which is pretty hot for the housebuilding sector. Such a rating would normally imply that the market is anticipating substantial earnings growth in the foreseeable future, but the Chairman was on today's breakfast TV discussing the results and said that although the market had stabilised, he was anticipating flat results for the next year or so. If that's the case, then I'm afraid these are looking a bit overvalued IMHO.

[atvt] 01/3/2011 12:28

Short-termers taking profits would be my guess. Many analysts are suggesting that in the long term this is only going one way, up! Not too bothered about the short term...